Section 3923.17 | Prohibition of rebates not to prohibit commissions or dividends.
The laws of this state prohibiting rebates do not prohibit any of the following:
(A) The payment of a commission or other compensation to any licensed agent or broker;
(B) Any insurer from allowing or returning to its participating policyholders dividends, savings, or unused premium deposits;
(C) Any insurer from returning or otherwise abating, in full or in part, the premiums of its policyholders out of surplus accumulated from nonparticipating insurance;
(D) The taking of a bona fide obligation, with interest at a rate not exceeding six per cent per annum, in the payment of any premium.
Available Versions of this Section
- October 1, 1953 – House Bill 1 - 100th General Assembly [ View October 1, 1953 Version ]