§ 6520 Association Insurance Agent Limits

• •Banks or groups can help people with money stuff, like paying bills or managing accounts, but they can't sell insurance like a car or health insurance company.
• •If a bank or group wants to work with an insurance company, they have to follow special rules from other laws.
• •Only certain groups or people with permission can act for others in money matters.

Your local bank offers to help you pay your bills every month by taking money from your account.

The bank can do this because it’s helping you manage your money, but it can’t sell you car insurance like a big insurance company can. If the bank wants to work with an insurance company, it has to follow extra rules.