The proposition repeals California's anti-rebate law
, making it legal for agents and brokers to reduce fees charged to, and share commissions with, clients.
9 (2009) dated March 3, 2009 to provide advice and guidance to licensees regarding the kinds of services can be provided without violating the anti-rebate laws
of the state of New York.
The discounted loan (financial services) constituted far and away the greatest fraudulent disregard of state anti-rebate laws
in the history of my three decade career.
The state anti-rebate laws
prohibit not only the direct kick-back of commissions to the policy buyer, such as where the life insurance agent receiving the commission writes a check back directly to the buyer, but also indirect payments, such as where the commission is used to provide something of value to the buyer like a below market loan.