insurer shall assume any risk in India in respect of any insurance business on which premium is not ordinarily payable outside India unless and until ... credited to the account of the agent. (4) Where an insurance agent collects a premium on a policy of insurance on behalf of an insurer
agent or
other provisions regulating his employment under the Insurance Act . The
Life Insurance Corporation (Agents) Regulations prescribe the service
conditions and functions ... employee that the
DESU is not its agent. Here "agent" does not mean insurance agent whose
appointment is under the statute. When
rupees one hundred crore in case of life insurance business, general insurance business and health insurance business; (c) in which no body corporate, whether incorporated ... carry on life insurance business or general insurance business or health insurance business in India; (9) "insurer" means-- (a) an Indian Insurance Company
paid or received by way of commission or otherwise to an insurance agent or an intermediary or insurance intermediary under section 40; (je) the manner ... practical training or examination to be passed for appointment as an insurance agent under clause (e) of sub-section (3) of section
such person shall, in respect of life insurance business transacted in India, refuse payment to an insurance agent of commission ... service of an insurance agent under a chief agent of the insurer, whether before or after the commencement of the Insurance (Amendment) Act, 1950, shall
Section 42 in The Insurance Act, 1938
42. Appointment of insurance agents
(1) An insurer may appoint any person to act as insurance agent ... section (3). (2) No person shall act as an insurance agent for more than one life insurer, one general insurer, one health insurer
prospectuses or tables of the insurer: Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken ... this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance
Section 43 in The Insurance Act, 1938
43. Record of insurance agents
(1) Every insurer and every person who, acting on behalf of an insurer ... employs insurance agents shall maintain a record showing the name and address of every insurance agent appointed by him and the date on which
commission or otherwise for soliciting or procuring insurance business in India to any person except an insurance agent or an intermediary or insurance intermediary ... general insurance issued after the commencement of the Insurance (Amendment) Act, 1950 (47 of 1950). (2A) Save as hereinafter provided, no insurance agent or intermediary
agent. In agent, the relationship is that of the agent and the principal while the assessee's relationship with the Life Insurance Corporation ... appointment as new agents.
(iv) to act generally in such a way as to activise existing agents and motivate new agents, so as to develop
