Section 16-23-79 - Commissions A servicing carrier shall pay a producer for business written pursuant to the JUP a commission at the following rate:
(1) For private passenger non-fleet motor vehicle insurance, a commission of eight per cent of the written premium up to a maximum amount of $75 per vehicle for all new business and five per cent of the written premium up to a maximum amount of $35 per vehicle for all renewals;(2) For commercial and all other vehicles, five per cent of written premium for all new business and renewals; and(3) No commission shall be paid for CPAI business. All risks transferred from one servicing carrier to another under the JUP or reinstated policies are to be considered renewal business.
[Eff 9/1/80; am and comp 9/1/82; am and comp 9/1/85; comp 9/1/88; comp 9/15/89; comp 9/1/90; comp 6/1/93; am 1/30/95; am and comp 1/1/98; am and comp 1/8/99; am and comp 11/11/12] (Auth: HRS §§ 431:10C-214, 431:10C-406) (Imp: HRS §§ 431:10C-401 through 431:10C-404)