GroundRules
N.Y. Insurance Law § 2116: Insurance brokers; commissions
Where this section sits in the code
- Insurance Law
- Article 21. Agents, Brokers, Adjusters, Consultants and Intermediaries
* § 2116. Insurance brokers; commissions. No insurer authorized to do
business in this state, and no officer, agent or other representative
thereof, shall pay any money or give any other thing of value to any
person, firm, association or corporation for or because of his or its
acting in this state as an insurance broker, unless such person, firm,
association or corporation is authorized so to act by virtue of a
license issued or renewed pursuant to the provisions of section two
thousand one hundred four of this article. For the purposes of this
section, "acting as insurance broker" shall not include the referral of
a person to a licensed insurance agent or broker that does not include a
discussion of specific insurance policy terms and conditions and where
the compensation for referral is not based upon the purchase of
insurance by such person.
* NB Effective until September 10, 2029
* § 2116. Insurance brokers; commissions. No insurer authorized to do
business in this state, and no officer, agent or other representative
thereof, shall pay any money or give any other thing of value to any
person, firm, association or corporation for or because of his or its
acting in this state as an insurance broker, unless such person, firm,
association or corporation is authorized so to act by virtue of a
license issued or renewed pursuant to the provisions of section two
thousand one hundred four of this article.
* NB Effective September 10, 2029
Collected 2026-09-14T19:32:45Z. Source file · JSON