11 NCAC 04 .0120 POLICY OR SERVICE FEES
An agent, broker, or limited representative who deals directly with an applicant and who intends to charge a policy or service fee in accordance with G.S. 58‑33‑85(b) shall not do so unless he complies with the following:
(1) A sign that informs the applicant in large bold print that a policy or service fee of [amount] will be charged, shall be displayed in a prominent place so as to be seen and read from any part of the office lobby.
(2) The applicant's consent in writing is obtained on a separate form each time a policy or service fee is charged. The form shall be entitled, "Policy or Service Fee Consent" and shall include the date and amount of each fee charged.
(3) A dated receipt for the payment of a policy or service fee shall be issued either separately from the policy premium receipt or stated separately on the receipt issued for the policy premium.
History Note: Authority G.S. 58-2-40; 58-2-195; 58-33-85(b);
Eff. February 1, 1993;
Amended Eff. February 1, 1996.