(a) A broker’s license must be issued to cover all lines of insurance. The Commissioner may not issue a broker’s license limited to a particular line of insurance.
(b) A broker is not an agent or other representative of an insurer and may not bind the insurer upon any risk or with reference to any insurance contract.
(c) An insurer or agent has the right to pay a broker licensed under this title, or under the laws of any other jurisdiction, and the broker has the right to receive from the insurer or agent, the customary commissions upon insurances placed with the insurer by the broker.