Section 12 in The Life Insurance Corporation of India (Agents) Regulations, 2017
12. Corporation's lien on agent's dues.
(1)Any act of omission or violation of regulation 8 and the code of conduct as set out under the Second Schedule, resulting in loss to the Corporation, shall make the agent liable for penalty, inclusive of recovery of the said losses.(2)The Corporation shall have a first lien and charge on all moneys payable to an agent or his heirs for recovery of all debts due from him to the Corporation and may appropriate any such moneys directly towards realization of such debts.
