§ 58-7-140. Certain officers debarred from commissions. - North Carolina Statutes

§58‑7‑140.  Certain officers debarred from commissions.

No officer or other personwhose duty it is to determine the character of the risk, and upon whosedecision the application shall be accepted or rejected by an insurance company,shall receive as any part of his compensation a commission upon the premiums,but his compensation shall be a fixed salary and such share in the net profitsas the directors may determine. Nor shall such officer or person be an employeeof any officer or agent of the company. (1899, c. 54, s. 32; 1903, c.438, s. 4; Rev., s. 4738; C.S., s. 6347; 1945,  c. 386.)