Insurance Law of New York Being Chapter 28 of the Consolidated Laws And Chapter
Insurance Law of New York Being Chapter 28 of the Consolidated Laws And Chapter
Amasa J Amasa Junius Parker
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Dept. , June 3, 1908. It would be unlawful under § 97 for managers of a company in various States to organize an association to contribute a general fund and offer prizes to managers for the largest volumes of business written. Ruling Ins. Dept. , Oct. 17, 1910. It would be a violation of § 97, relating to bonuses, etc. , to offer any sum to an agent to write business for ten consecutive weeks and to remit with the application the net for the premium. Ruling Ins. Dept. , May 4, 1911. The amendm...ent to § 97 increasing the number of renewals that may be paid to agents is not retroactive. Ruling Ins. Dept. , Feb. 14, 1911. COMMUTATION OF RENEWALS. — Where an agent has a guarantee of two years' renewals on business written since January 1, 1907, and desires tr. Commute such renewals, also a small amount of ccrmmissions on deferred first premiums, if his proposition is made in good faith and he is desirous of sever- ing his relations with his company, the renewals may be purchased provided the limitations of section 97 of the Insurance Law of this state be not exceeded.
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