Licensure Requirement

Licensure Requirement Solicitation for the purchase or sale of any insurance products shall be conducted only by persons or entities who have complied with all applicable state insurance licensing, appointment laws and regulations and who have been issued an agent or broker's license pursuant to Miss. Code Ann. § 83-17-1, et seq. However, employees of financial institutions who are not licensed as an agent or broker may make referrals of financial institution customers or prospects to licensed agents and receive a one-time nominal fee per referral of a fixed dollar amount for each customer consistent to referral fees received in other non-deposit investment products. The term "nominal fee" means an amount not to exceed Twenty Dollars ($20.00). The payment of this referral fee cannot depend on whether the referral results in the sale or issuance of an insurance product or service.