31 Pa. Code § 73.135 - Licensed producers
(a)
Individual policy. All individual policies of credit life
insurance, credit A and H insurance or credit involuntary or voluntary
unemployment insurance shall be issued only through a producer licensed in this
Commonwealth. A person performing in connection with an individual policy a
conduct which would fall within the definition of a producer shall be licensed
as a producer.
(b)
Employes
of creditor or insurer. If a group policy is issued to a creditor,
bona fide employes of the creditor or insurer may issue certificates and
perform functions related to the issuance of certificates and administration of
the group policy without being licensed as producers.
(c)
Receipt of compensation without
licensing. If a group policy is issued to a creditor, the creditor
may, without being licensed as a producer, receive compensation for the
issuance of certificates and performance of functions related to the issuance
of certificates, subject to the limitation on compensation as provided in
§
73.134 (relating to compensation
of producers or creditors).
(d)
Licensed agent. A licensed agent of the insurer who is not
employed by the group policyholder may assist the group policyholder with the
enrollment of persons in the program and with the issuance of certificates, but
may not receive a commission from the group policyholder.
Notes
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