Policy Fees. MGA shall comply with the provisions of Section 626.7451(11), F.S., and shall be entitled to retain as fully earned upon collection any duly authorized and collected per-policy fee pursuant to such section. The per-policy fee shall not exceed $25.00 or such other greater amount as may be authorized under Florida law. In no instance shall the aggregate of the per-policy fees for a placement of business authorized under Section 626.7451(11), Florida Statutes, when combined with any other per-policy fee charged by the Company, result in per-policy fees which exceed the aggregate amount of $25.00 or such other greater amount as may be authorized by Florida law. The per-policy fee shall be a component of the Company’s rate filing. MGA may collect per-policy fees in other Authorized Territories if such fees are permitted under the laws and regulations of such Authorized Territories and subject to MGA’s compliance with the Company’s underwriting guidelines.
Appears in 3 contracts
Sources: Managing General Agency Agreement (Exzeo Group, Inc.), Managing General Agency Agreement (Exzeo Group, Inc.), Managing General Agency Agreement (Exzeo Group, Inc.)