Iowa Admin. Code r. 191-20.56

Current through Register Vol. 47, No.14, January 8, 2025

Rule 191-20.56 - Commission

(1) Commission to the licensed producer designated by the applicant shall be 10 percent of all policy premiums. The Plan shall not license or appoint producers.

(2) In the event of cancellation of a policy, or if an endorsement is issued that requires the premium to be returned to the insured, the producer shall refund proportionally to the Plan commissions on the return premium at the same rate at which such commissions were originally paid.

Iowa Admin. Code r. 191-20.56

Adopted by IAB March 20, 2024/Volume XLVI, Number 19, effective 4/24/2024