Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 1507-A - Secretary to be agent(a) Agent.--Except for life insurance procured under section 1502-A(b), the secretary is exclusively authorized and shall have the duty to transact all business necessary for the purpose of contracting for insurance under this article.(b) Commission.--The life insurance company or companies from whom life insurance is procured by the secretary shall compute commissions in accordance with their standard practice followed in other similar plans. The commissions shall be paid to the secretary to offset administrative and other expenses incurred in the administration of the insurance plan.1929, April 9, P.L. 343, No. 176, art. XV-A, § 1507-A, added 2007, July 17, P.L. 141, No. 42, § 1.1, imd. effective.