Section 27-7-35 Division or sharing of commissions by licensees. - Alabama Statutes

Section 27-7-35

Division or sharing of commissions by licensees.

(a) No licensee shall divide with others or share in any commissions payable on account of the exercise of a license under this title except a producer may divide or share in the commissions with other producers licensed as to the same kinds of insurance or classifications thereof.

(b) Violation of this section shall be punishable as provided in subsection (b) of Section 27-7-34.

(Acts 1957, No. 530, p. 726, §15; Acts 1971, No. 407, p. 707, §147; Act 2001-702, p. 1509, §9.)