368(1)No insurer or officer, employee or representative of the insurer and no agency, agent, managing general agent, restricted insurance representative or special insurance broker shall, directly or indirectly, do any of the following to any person insured or applying for insurance in respect of life, person or property in the Province: 

368(2)Nothing in subsection (1) affects any payment by way of dividend, bonus, profit or savings that is provided for by the policy.

368(1)No insurer licensed under this Act, and no officer, agent or employee of such an insurer, and no insurance agent or broker authorized under this Act, shall directly or indirectly, pay or allow, or offer or agree to pay or allow, any commission or other compensation or anything of value to any person for acting or attempting or assuming to act as an insurance agent or broker in respect of insurance in the Province or for having or claiming or appearing to have any influence or control over the insured or prospect for insurance unless that person holds at the time a subsisting insurance agent’s or broker’s licence or is a person acting under the authority of subsection 352(15), (16), (17) or (18).

368(2)An agent or broker who, at the time when he receives an application for insurance, does not hold a subsisting licence, shall not retain or deduct anything on account of commission from any payment made to him with such application, but shall remit to the insurer the full amount paid to him on account of premium.

368(3)Nothing in this Act shall be construed so as to prevent an insurer from compensating a bona fide salaried employee of its head or branch office in respect of insurance issued by the employing insurer upon the life of such employee or so as to require that such employee shall be licensed as an agent to effect such insurance.

368(4)No insurer or agent shall pay or allow, or agree to pay or allow, directly or indirectly, any commission or compensation of any kind in lieu of commission to any agent in connection with any application or contract for insurance on the life of the agent or of any member of his immediate family until the agent has, within twelve calendar months, negotiated at least three contracts of insurance on the lives of persons other than those of the classes mentioned in this section, and the first premiums thereon have been fully paid to the insurer.

368(5)No insurer and no officer, employee or agent thereof, and no broker, shall, directly or indirectly, make or attempt to make any agreement as to the premium to be paid for a policy other than as set forth in the policy, or pay, allow to give, or offer or agree to pay, allow or give, any rebate of the whole or part of the premium stipulated by the policy, or any other consideration or thing of value intended to be in the nature of a rebate of premium, to any person insured or applying for insurance in respect of life, person or property in the Province.

368(6)Nothing in this section affects any payment by way of dividend, bonus, profit or savings that is provided for by the policy.

368(1)No insurer licensed under this Act, and no officer, agent or employee of such an insurer, and no insurance agent or broker authorized under this Act, shall directly or indirectly, pay or allow, or offer or agree to pay or allow, any commission or other compensation or anything of value to any person for acting or attempting or assuming to act as an insurance agent or broker in respect of insurance in the Province or for having or claiming or appearing to have any influence or control over the insured or prospect for insurance unless that person holds at the time a subsisting insurance agent’s or broker’s licence or is a person acting under the authority of subsection 352(15), (16), (17) or (18).

368(2)An agent or broker who, at the time when he receives an application for insurance, does not hold a subsisting licence, shall not retain or deduct anything on account of commission from any payment made to him with such application, but shall remit to the insurer the full amount paid to him on account of premium.

368(3)Nothing in this Act shall be construed so as to prevent an insurer from compensating a bona fide salaried employee of its head or branch office in respect of insurance issued by the employing insurer upon the life of such employee or so as to require that such employee shall be licensed as an agent to effect such insurance.

368(4)No insurer or agent shall pay or allow, or agree to pay or allow, directly or indirectly, any commission or compensation of any kind in lieu of commission to any agent in connection with any application or contract for insurance on the life of the agent or of any member of his immediate family until the agent has, within twelve calendar months, negotiated at least three contracts of insurance on the lives of persons other than those of the classes mentioned in this section, and the first premiums thereon have been fully paid to the insurer.

368(5)No insurer and no officer, employee or agent thereof, and no broker, shall, directly or indirectly, make or attempt to make any agreement as to the premium to be paid for a policy other than as set forth in the policy, or pay, allow to give, or offer or agree to pay, allow or give, any rebate of the whole or part of the premium stipulated by the policy, or any other consideration or thing of value intended to be in the nature of a rebate of premium, to any person insured or applying for insurance in respect of life, person or property in the Province.

368(6)Nothing in this section affects any payment by way of dividend, bonus, profit or savings that is provided for by the policy.

368(7)Every insurer or other person who violates any provision of this section is guilty of an offence.