So that I understand, the agents “must” both carry the same type of license? Example- both are P&C licensed etc = ok to share commissions? What if the agency they are endorsed by is licensed to write all lines but they are not. Could the endorsed agency receive a commission split? This is where the confusion remains . I can’t find an answer to this anywhere. Thank you for the input.
Commission split
- Thread starter Whammer1249
- Start date
- 11,266
The agency entity could receive the commission because the entity IS licensed in those lines, but the end-agent who is not licensed in those lines could not... at least not as a "commission". Maybe the agency could recharacterize it as a "bonus"? But it couldn't be a commission.
- 29,467
That makes sense. I'd think it's that way in every state.
Seems like most apps have a place for a commission split and they ask for the agent # and to get an agent # you'd have to be licensed in that state.
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