My ex/investor purchased a brokered agents business in November 2020. He could not be appointed to the carriers so he

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Customer: My ex/investor purchased a brokered agents business in November 2020. He could not be appointed to the carriers so he had me take ownership and put all the appointments under my personal TDI license since the business itself lost their TDI Agency license due to an incident the prior owner had. I have then worked as a sole proprietor with all the customers under my license. I was made to believe I was the owner, but I just found out, I was only made the registered agent through the SOS and the prior owner is still listed as the President and Director of the Business. My ex/investor has a bill of sale from the prior owner that I was not on and I was unaware. I was used because he couldn’t be appointed due to his appointment with Allstate for his Agency. I have been taking care of my customers and handling the business for the past 14 months. Can he take my customers away?? Can I go to jail because my ex/investor seems to think I stole the book of business? My ex/investor and I never had a contract in place.
Answered by EvanG329 in 19 mins 7 months ago
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EvanG329
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EvanG329
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EvanG329
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EvanG329, Expert

Thanks for using Just Answer. My name is ***** ***** I will be answering your question.

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EvanG329, Expert

It sounds like he may be able to take customers away since you are not the owner, but you may have a legal action against them if they do.

Customer
But I have a signed contract from the assigned agent before me that was under the TDI license. Without that, I wouldn’t have been able to get the customers under my license. Does that not matter?
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EvanG329, Expert

Yes. That could matter if they attempt to take away the customers/clients.

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EvanG329, Expert

It sounds like they acted in bad faith and that could be used against them.

Customer
Bad faith as in…?
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EvanG329, Expert

I would recommend consulting with a business litigation attorney to further evaluate any available actions.

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EvanG329, Expert

Bad faith as in there acts to purposely mislead you.

Customer
if they used me and my license for their financial gain to take the customers in the end, that’s considered bad faith?
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EvanG329, Expert

On the other question this is generally this would be a civil matter and not a criminal matter.

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EvanG329, Expert

Yes. That and other potential causes of action like fraud and misrepresentation.

Customer
I should be ok?
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EvanG329, Expert

Not guaranteed as this seems like there may be a civil business litigation that could be up to a court to decide. It depends if you or the other parties decide to take further action.

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