{"data":{"id":"us-mi/mich.-comp.-laws-500.1240","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.1240","heading":"Payment or acceptance of commission, service fee, or valuable consideration.","body":"Sec. 1240.\n\nAn insurer or insurance producer shall not pay a commission, service fee, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under this chapter and is not so licensed.\n\nA person shall not accept a commission, service fee, or other valuable consideration for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under this chapter and is not licensed.\n\nRenewal or other deferred commissions may be paid to a person for selling, soliciting, or negotiating insurance in this state if the person was required to be licensed under this chapter at the time of the sale, solicitation, or negotiation and was licensed at that time.\n\nAn insurer or insurance producer may pay or assign commissions, service fees, or other valuable consideration to an insurance agency or to persons who do not sell, solicit, or negotiate insurance in this state, unless the payment would violate section 2024.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-1240","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"de4eebf0ca4f0f49063d453c2408c99c9190aad4501727bb7c90b9a682465a41","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.124","next":"us-mi/mich.-comp.-laws-500.1242"},"notice":"GroundRules: Original legal text. Not legal advice."}