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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 175 INSURANCE
  • Section 75 Mutual fire companies; underwriters; compensation

Section 75. No officer or other person whose duty it is to determine the character of the risks, and upon whose decision the application shall be accepted or rejected by a mutual fire company, shall receive as any part of his compensation a commission upon the premiums; but his compensation shall be a fixed salary, and, if the directors so determine, a share of the net profits. Nor shall such officer or person aforesaid be an employee of any officer or agent of the company.