N.Y. Insurance Law Section 4215
Contracts with industrial life insurance agents

  • prohibitions

(a)

No life insurance company licensed to do business in this state shall make any contract with any agent, superintendent or other representative employed in this state which provides:

(1)

That the company shall charge against the past, present or future compensation of the agent, superintendent or other representative, either salary or commission, any sum of money as a result of the surrender for cash of any industrial policy by any policyholder;

(2)

That the company shall charge against the past, present or future compensation of the agent, superintendent or other representative, either salary or commission, any sum of money as a result of the lapse of any industrial policy that has been in force for three years or longer.

(b)

The provisions of subsection (a) hereof shall not prohibit the company from contracting with its agents, superintendents or other representatives, to charge any agent, superintendent or other representative, a sum not exceeding the commission on any policy written by the agent, superintendent or other representative on the life of any person, or any relative sharing the home with the person, who has terminated a policy of the company not more than three months before or who terminates such a policy within three months after the policy was written.

Source: Section 4215 — Contracts with industrial life insurance agents; prohibitions, https://www.­nysenate.­gov/legislation/laws/ISC/4215 (updated Sep. 22, 2014; accessed Dec. 13, 2025).

4202
Capital and surplus requirements of life insurance companies 4203
Transfer of shares of domestic life insurance company 4204
Financial requirements for the organization of stock accident and health insurance companies and stock legal services insurance companies 4205
Life, accident and health, and legal services insurance companies 4206
Deposits by life, accident and health, and legal services insurance companies 4207
Dividends to shareholders of life, and accident and health insurance companies 4208
Financial and additional requirements for the organization of mutual life, accident and health, and legal services insurance companies 4209
Mutual life insurance companies, mutual accident and health insurance companies 4210
Election of directors of domestic mutual life insurance companies 4211
Election of directors of domestic stock life insurance companies 4212
Stock life insurance companies 4213
Industrial life insurance 4214
Industrial accident and industrial health insurance 4215
Contracts with industrial life insurance agents 4216
Group life insurance 4217
Valuation of insurance policies and contracts 4218
When actual premium is less than net premium 4219
Limitation on accumulation of surplus of life insurance companies 4220
Life insurance and annuities 4221
Standard nonforfeiture law 4222
Policy loans 4223
Standard nonforfeiture law for annuities 4224
Life, accident and health insurance 4225
Domestic life insurance companies 4226
Misrepresentations, misleading statements and incomplete comparisons by insurers 4228
Life insurance and annuity business 4230
Salaries and pensions to officers and employees 4231
Policyholder’s participation in surplus of life insurance companies 4232
Amounts credited on certain contracts or life insurance policies 4233
Annual statements of life insurance companies 4235
Group accident and health insurance 4236
Joint underwriting of group health insurance for persons aged sixty-five and over 4237
Blanket accident and health insurance 4237–A
Stop-loss insurance 4238
Group annuity contracts 4239
Allocation and reporting of income and expenses of life insurers 4240
Separate accounts 4241
Penalty for violation of filing requirements
Green check means up to date. Up to date

Verified:
Dec. 13, 2025

Last modified:
Sep. 22, 2014

§ 4215. Contracts with industrial life insurance agents's source at nysenate​.gov

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