                                 CODE OF VIRGINIA

CONTRACT REQUIRED; PLACEMENT OF INSURANCE FOR PUBLIC BODIES (§ 38.2-1839)

A. A licensed insurance consultant that does not sell, solicit or negotiate
insurance as part of his services shall enter into a written contract with his
client prior to any act as a consultant in this Commonwealth. A licensed
insurance consultant that does sell, solicit or negotiate insurance in this
Commonwealth as part of his services shall enter into a written contract with
his client prior to the purchase of any insurance by that client. The contract
shall include, without limitation, the amount and basis of any consulting fee
and the duration of employment. If the insurance consultant may also receive
commissions, incentives, bonuses, overrides, or any other form of remuneration
either directly or indirectly as a result of his services for selling,
soliciting, or negotiating insurance as a part of his services in addition to a
consulting fee, unless otherwise prohibited, such information shall be disclosed
in the contract.

B. No insurance consultant may provide or offer to provide, directly or
indirectly, insurance products to a public body while concurrently and on its
behalf (i) evaluating proposals from other insurance agents and (ii)
recommending the placement of insurance.

HISTORY: 1985, c. 3, § 38.1-327.64; 1986, c. 562; 1987, cc. 521, 678; 1996, c.
989; 2001, c. 706; 2003, c. 621; 2007, c. 449.