AN ACT PLACING A CAP ON INSURANCE REFERRAL FEES PAID TO NONLICENSED PERSONS.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 58‑33‑82 reads as rewritten:

§ 58‑33‑82.  Commissions.

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(f)        With respect to a referral of insurance business to a licensed insurance agent or broker, a commission, fee, or other valuable consideration paid to an unlicensed person under subsection (e) of this section shall not exceed fifty dollars ($50.00) in value. In addition to any other penalties authorized by law, a violation of this subsection may be punishable by a fine of not more than two thousand dollars ($2,000) for each violation.

SECTION 2.  This act becomes effective October 1, 2023, and applies to any referral of insurance business made after that date.