Illegal inducements prohibited

No insurer, insurance producer as defined in KRS 304.9-020, or other person shall, as an inducement to insurance, or in connection with any insurance transaction, provide in any policy for, or offer, sell, buy, or offer or promise to buy, sell, give, promise, or allow to the insured or prospective insured or to any other person on his or her behalf in any manner whatsoever: (1) Any employment; (2) Any shares of stock or other securities issued or at any time to be issued or any interest therein or rights thereto; or (3) Any advisory board contract, or any similar contract, agreement or understanding, offering, providing for, or promising any profits or special returns or special dividends.