All original, renewal, and converted life insurance policy commissions earned by an
agent who is employed by the insurance company, are earned in the month the selling
agent does the last act required to entitle them to the commission.
All renewal commissions the agent anticipates receiving must be reported as earned
in the month and year in which the sale was completed by the agent. If anticipated
renewal commissions fail to materialize, corrections to the month and year in which
they were counted are subject to administrative finality.