(a) The paying or allowing of any commission or other valuable consideration on insurance transacted in Guam by an insurer or its agent to other admitted insurers or to licensed brokers, agents, or solicitors for solicitation of the business is lawful.

(b) If at the time of the solicitation and issuance of a policy of insurance which by its terms continues until cancelled, a licensed person may lawfully receive commissions thereon, such person or his personal representative may continue to receive commissions thereon during the continuance in force or renewal of such policy without being licensed.

(c) It is unlawful for any insurance agent who is not also a licensed insurance broker to receive commissions derived from insurance placed with an insurer which has not appointed him to act as its agent in the transaction of such insurance.

(d) It is unlawful for an insurance agent who is not also a licensed insurance broker to receive commissions on insurance from any source other than an insurer for whom he is licensed.

SOURCE: GC § 43254.