Exams / Florida Life Insurance License / Fla. Stat. §626.753
Fla. Stat. §626.753 — what it says, and how the exam tests it
This section is cited by 3 of our practice questions and is tested on 4 exams including the Florida Life Insurance License.
The text
626.753 Sharing commissions; penalty. — (1)(a) An agent may divide or share in commissions only with other agents appointed and licensed to write the same kind or kinds of insurance, or may divide commissions with a customer representative. (b) This section shall not be construed to prevent the payment or receipt of renewal commissions or other deferred commissions or pensions to or by any person solely because such person has ceased to hold a license to act as an insurance agent or customer representative, and shall not prevent the payment of renewal commissions or other deferred commissions to any incorporated insurance agency solely because any of its stockholders has ceased to hold a license to act as an insurance agent or customer representative. (c) A customer representative may share in commissions with an agent.
Public record. Read the full, current section at the official source: www.leg.state.fl.us
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Fla. Stat. §626.753, a person who has ceased to hold a license as an insurance agent may still receive which type of compensation?
drill Florida Statutes, Rules and Regulations Common to All Lines → - A retired insurance agent no longer holds a license. Under Fla. Stat. §626.753, may the agent still receive renewal commissions?
drill Florida Statutes, Rules and Regulations Common to All Lines → - Under Fla. Stat. §626.753, an agent may divide or share commissions with which of the following?
drill Florida Statutes, Rules and Regulations Common to All Lines →