Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 220 - CREDIT LIFE AND HEALTH INSURANCE
Section 031-220-15 - Expense Allowances and Commissions
Universal Citation: 02 ME Code Rules ยง 031-220-15
Current through 2024-38, September 18, 2024
A. Fees paid to a lender for handling or processing credit life or credit health insurance may not exceed 10% of prima facie premiums as defined by this rule.
B. In addition to fees allowed by subsection A, a commission not exceeding 5% of prima facie premiums may be paid to a creditor who is a licensed credit insurance agent.
For purposes of this section and 24-A M.R.S.A. §2860-A, "lender" means creditor.
Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
