Section 45-06-01.1-13 - Permitted compensation arrangements1. An issuer or other entity must provide level commissions or other compensation to an agent or other representative for the sale of a medicare supplement policy or certificate for the year of issuance and no fewer than five renewal years. 2. No issuer or other entity may provide compensation to its agents or other producers and no agent or producer may receive compensation greater than the renewal compensation payable by the replacing issuer on renewal policies or certificates if an existing policy or certificate is replaced. 3. For purposes of this section, "compensation" includes pecuniary or nonpecuniary remuneration of any kind relating to the sale or renewal of the policy or certificate including, but not limited to, bonuses, gifts, prizes, awards, and finders fees. 4. This section does not apply to an issuer or other entity that provides a one-time commission or other compensation provided the amount paid to an agent or other representative for the sale of a medicare supplement insurance policy or certificate does not exceed twenty-five dollars. This payment is in lieu of level commissions. N.D. Admin Code 45-06-01.1-13
Effective January 1, 1992; amended effective January 6, 1992.General Authority: NDCC 26.1-36.1-02(1 )(2)
Law Implemented: NDCC 26.1-36.1-03