Compensation paid in connection with the purchase or sale of
credit insurance may be paid (i) by an insurer to a person or other entity
licensed as an agent to write credit insurance, (ii) by an insurer to the
creditor in the transaction in connection with which the credit insurance was
purchased or sold, or (iii) by an employee or other person or entity licensed
to write credit insurance to the creditor in the transaction in connection with
which the credit insurance was purchased or sold, or (iv) by an insurer or by
an employee or other person or entity licensed to write credit insurance to a
lending institution or a holding company or the subsidiary or affiliate of a
lending institution or holding company. Nothing herein shall be construed as
permitting the total compensation paid in connection with the purchase or sale
of credit insurance to exceed the amount otherwise permitted by law. Nothing
herein shall be construed as permitting the offer or sale or issuance of a
policy or certificate of credit insurance other than by an authorized insurer
or through an agent licensed to write credit insurance.
