4225. Domestic life insurance companies; discrimination as to brokers. No officer, trustee or director of a domestic life insurance company shall direct or require a borrower from the life insurance company on mortgage to negotiate any policy of insurance on the mortgaged property through any particular insurance broker, or attempt to divert to any particular insurance broker the patronage of borrowers from the life insurance company, or refuse to accept any such insurance policy because it was not negotiated through a particular insurance broker.
Last modified: February 3, 2019