Connecticut General Statutes 38a-707b – Disclosure of producer fees and compensation upon request of municipality or board of education
(a) For purposes of this section, “insurance”, “insurance producer” and “insurer” have the same meanings as provided in § 38a-702a, and “municipality” means any town, city or borough, consolidated town and city or consolidated town and borough.
Terms Used In Connecticut General Statutes 38a-707b
- Insurance: means any of the lines of authority contained in this title. See Connecticut General Statutes 38a-702a
- producer: means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. See Connecticut General Statutes 38a-702a
(b) Any insurance producer who sells, solicits or negotiates insurance on behalf of an insurer to a municipality or local or regional board of education shall, upon request from the municipality or local or regional board of education, fully disclose, in writing, the amount of any fees or compensation such insurance producer receives from the insurer for such services pursuant to the written memorandum required under § 38a-707 or the Investment Advisers Act of 1940, 15 USC 80b-1, et. seq., as amended from time to time.