26.1-26.8-15. Standards of conduct of public adjuster

26.1-26.8-15. Standards of conduct of public adjuster 1. A public adjuster shall serve with objectivity and complete loyalty to the interest of the insured and in good faith shall render to the insured such information, counsel, and service, as within the knowledge, understanding, and opinion of the public adjuster will best serve the insurance claim needs and interest of the insured. 2. A public adjuster may not solicit or attempt to solicit an insured during the progress of a loss-producing occurrence, as defined in the insured's insurance contract. 3. A public adjuster may not permit an unlicensed employee or representative of the public adjuster to conduct business for which a license is required under this chapter. 4. A public adjuster may not have a financial interest in any aspect of the claim, other than the salary, fee, commission, or other consideration established in the written contract with the insured. A financial interest includes ownership of, employment by, or other consideration received from an individual or business entity that performs work pertaining to damage related to the insured loss. 5. A public adjuster may not acquire an interest in salvage of property subject to the contract with the insured unless the public adjuster obtains written permission from the insured after settlement of the claim with the insurer. 6. A public adjuster may not refer or direct the insured to obtain needed repairs or services in connection with a loss from a person: a. With which the public adjuster has a financial interest; or b. From which the public adjuster may receive compensation or other consideration for the referral. 7. A public adjuster may not undertake the adjustment of a claim if the public adjuster is not competent and knowledgeable as to the terms and conditions of the insurance coverage or if the loss or coverage otherwise exceeds the current expertise of the public adjuster. 8. A public adjuster may not knowingly make a false oral or written material statement regarding a person engaged in the business of insurance to an insured client or potential insured client. 9. A public adjuster, while licensed pursuant to this chapter, may not represent or act as a company adjuster or independent adjuster in any circumstance. 10. A public adjuster may not enter a contract or accept a power of attorney that vests in the public adjuster the effective authority to choose the person that will perform repair work. 11. A public adjuster may not agree to a loss settlement without the insured's knowledge and consent.