1. It is prohibited for an Insurance Company’s chairman, board members, and Authorized Individuals or any Person acting on their behalf to: a. Engage in managing other competing Insurance Company or any company that carries on the same or similar insurance business; b. Compete with the Insurance Company’s business or carrying on any action or activity that conflicts with such a company’s interest; c. Practice as an Insurance Agent or an Insurance Broker; or d. Receive a commission for any insurance business. 2. It is prohibited for any Person who assumes the management of an Insurance Company or any employee thereof to be a representative of any shareholder of such a company.
Interpretation and application must be checked against the official text and current version.