4312 - Employment of solicitors; pension plans.

§  4312.  Employment  of  solicitors;  pension  plans.  (a)  1.  Every  corporation subject  to  the  provisions  of  this  article  may  employ  solicitors  or  accept  business from agents and brokers on a commission  basis, but all solicitors shall be paid on a salary basis  only.  It  is  expressly  provided such solicitors are exempt from obtaining a license.  Commissions shall be included in the corporation's rate manual and  rate  filings  and  commissions  payable  by  health maintenance organizations  organized  under  this  article  or  health  maintenance   organizations  operating  as  a  line  of business of corporations organized under this  article shall continue to be subject to existing  regulations  governing  commissions payable by health maintenance organizations.    2.  Any  corporation exercising the authority granted in paragraph one  of this subsection shall provide to the superintendent  at  the  time  a  corporation  commences  the  use  of  agents and brokers on a commission  basis, a detailed plan explaining  the  purpose  for  which  agents  and  brokers  are  to  be  utilized,  the lines of business or products where  agents and brokers are to be  utilized,  the  commission  scales  to  be  employed  in  compensating  such  agents  and  brokers,  and  such other  information as required by the superintendent.    (b) No corporation subject to the provisions  of  this  article  shall  hereafter  enter  into  any  agreement,  directly or indirectly, with an  officer, director or salaried employee of such  corporation  whereby  it  agrees that for any services rendered or to be rendered he shall receive  any  salary,  compensation or emolument that will extend beyond a period  of thirty-six months from  the  date  of  such  agreement,  except  that  payment  of  an  amount  not  in  excess of twenty percent for the years  nineteen  hundred  eighty-five  and  nineteen  hundred  eighty-six   and  thirty-three  and  one-third  percent  for  the  year  nineteen  hundred  eighty-seven and thereafter of the salary or other compensation  of  any  of  its  officers  or  employees,  other  than a mechanic, workingman or  laborer, may by written contract  be  deferred  beyond  such  period  of  thirty-six  months,  which  contract may include conditions to be met by  such  officer  or  employee  before  payment  will  be  made.  No   such  corporation  shall grant any pension to any officer, director or trustee  thereof or to any member of his family after  death,  except  that  such  corporation  may, in pursuance of the terms of a retirement plan adopted  by the board of directors  of  such  corporation  and  approved  by  the  superintendent,  provide  for  any  person  who is a salaried officer or  employee of such corporation, a pension  payable  at  the  time  of  his  retirement  by  reason  of  age  or  disability, and also life insurance  benefits payable at his death.