general agent

  • An agency representative of an insurance company, often exclusive, in a specified territory. He may both sell insurance personally and appoint soliciting agents, or sub-agents, to sell for him. He receives an "overriding" commission on all insurance sold through his agency. He is an independent contractor and responsible for the training and remuneration of his sub-agents. He is not a "general agent" in the legal sense, since he does not have the right to perform all acts that his principal might perform.

    Internal Revenue Service 1
    See also agent

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).