Amends TCA Title 56, Chapter 6 and Title 56, Chapter 8.

Under present Tennessee law, to the extent not prohibited by federal law, an insurance producer may pay a referral fee to an unlicensed person so long as:<br /> <br /> (1) The unlicensed person does not discuss the specific insurance policy terms and conditions; and<br /> (2) The referral fee is a fixed amount that does not exceed $25.00, or a lesser amount established by rule of the commissioner of commerce and insurance, and payment of the referral fee is not contingent on whether the referred customer purchases insurance from the producer.<br /> <br /> This amendment removes the $25.00 limit on referral fees and specifies that an "insurer", as well as an insurance producer, may pay a referral fee.<br /> <br /> ON MARCH 25, 2019, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 272, AS AMENDED.<br /> <br /> AMENDMENT #1 revises this bill and present law (as described above in the bill summary) to provide that an unlicensed person may make a referral to a licensed insurance producer (instead of a licensed producer). This amendment retains the $25.00 limit on referral fees for unlicensed persons who are neither employed by or affiliated with the licensed insurance producer.. Like the bill, this amendment removes the present law provision whereby an unlicensed person who is either employed by or affiliated with the insurance producer may be compensated only if the compensation is a fixed nominal dollar amount.<br /> <br />