CODE OF VIRGINIA

PROHIBITED COMPENSATION FOR INTRA-COMPANY REPLACEMENT (§ 38.2-516)

No insurer shall pay a commission or other compensation to an appointed agent
who has replaced an existing individual accident and sickness policy with a
policy issued by the same insurer when such new policy provides benefits
substantially similar to the benefits under the replaced policy, except that an
insurer may pay to such agent a commission or other compensation to the extent
that the commission or other compensation does not exceed the renewal commission
that would have been paid to the agent had the replaced policy continued in
force.

HISTORY: 1990, c. 265.