Section 21.36.100. Rebates.

Except as otherwise expressly provided by law, a person may not knowingly permit or offer to make or make a contract of life insurance, life annuity or health insurance, or agreement under the contract other than as plainly expressed in the contract, or pay, allow, give or offer to pay, allow, or give, directly or indirectly, as inducement to the insurance, or annuity, a rebate of premiums payable on the contract, or a special favor or advantage in the dividends or other benefits, or paid employment or contract for services of any kind, or any valuable consideration or inducement whatever not specified in the contract; or directly or indirectly give, sell, purchase or offer to agree to give, sell, purchase, or allow as inducement to the insurance or annuity or in connection therewith, whether or not to be specified in the policy or contract, an agreement of any form or nature promising returns, profits, stocks, bonds, or other securities, or interest present or contingent in the contract or as measured by the contract, of an insurance company or other corporation, association, or partnership, or dividends or profits accrued or to accrue under the contract; or offer, promise, or give anything of value that is not specified in the contract.

Authorities

21.27.370;21.27.410

Notes

Implemented As

3 AAC 23.630
3 AAC 23.650
3 AAC 23.790
3 AAC 28.390

References

AS 21.27.370 Sharing compensation.
AS 21.27.410 Denial, nonrenewal, suspension, or revocation of licenses.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 31 ch 56 SLA 1996)