[TX P&C] 9. Premium Handling, Fiduciary Duties and Commission Sharing

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- Fiduciary duties of Texas P&C agents regarding premium collection, proper accounting, and the strict ban on fund diversion.

- Legal restrictions on sharing commissions with unlicensed individuals under Texas Insurance Code Section 4005.053.

- The two conditional statutory requirements for lawful referral fees paid to unlicensed lead sources.

- How discussing policy coverage terms or conditioning fees on actual sales turns a referral into illegal unlicensed solicitation.

- Decision rules for evaluating compliant accounting and referral practices on the Texas General Lines P&C exam.

This independent study resource helps candidates prepare for the Texas General Lines Property and Casualty exam. For practice modules, visit https://open-exam-prep.com/practice/tx-property-casualty and subscribe on YouTube at https://www.youtube.com/@Open-exam-prep .

Sources checked: September 28, 2026

https://tcss.legis.texas.gov/resources/IN/htm/IN.4005.htm

https://www.tdi.texas.gov/agent/general-property-apply.html