North Carolina § 58-7-140 - Certain officers debarred from commissions.
Full text of North Carolina North Carolina General Statutes § 58-7-140 — Certain officers debarred from commissions., with citation guidance and answers to common questions.
§ 58-7-140. Certain officers debarred from commissions.
No officer or other person whose duty it is to determine the character of the risk, and upon whose decision the application shall be accepted or rejected by an insurance company, shall receive as any part of his compensation a commission upon the premiums, but his compensation shall be a fixed salary and such share in the net profits as the directors may determine. Nor shall such officer or person be an employee of any officer or agent of the company. History (1899, c. 54, s. 32; 1903, c. 438, s. 4; Rev., s. 4738; C.S., s. 6347; 1945, c. 386.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-7-140
What does North Carolina General Statutes § 58-7-140 cover?
Section 58-7-140 ("Certain officers debarred from commissions.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 58-7-140?
A common citation format is "North Carolina General Statutes § 58-7-140" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 58-7-140 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.