How long does a insurance company have to reclaim overpayment of commissions from an employee?

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How long does a insurance company have to reclaim overpayment of commissions from an employee?

Asked on December 14, 2011 under Employment Labor Law, Kentucky

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The answer varies  by state: each state sets its own statutes of limitation (SOL), or time period to sue. Once it's too late to sue, it's late to force repayment.

If you had a written employment or commission agreement, it would governed by the SOL for written contracts; with no written agreements, probably by the SOL for oral agreements. Again, you'll need to either look up the SOL for your state, or repost your question with state detail for someone here to answer.

Generally though, the SOL for contracts, oral or written, is at least 2 years--and often 4, 6, or more. Until the SOL runs out, the company can try to reclaim the funds.


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