Which of the following is not a participant in sharing commissions legally?

The correct choice is unlicensed individuals because, in the context of insurance, only licensed individuals and entities are permitted to receive commissions for selling or servicing insurance policies. Licensing ensures that individuals have met the necessary education and regulatory requirements established by the state, which promotes professionalism and compliance within the industry.

Licensed brokers and commercial agents can legally share commissions because they operate within the regulatory framework and are authorized to engage in insurance transactions and receive compensation. Mutual insurers, as entities providing mutual insurance coverage, also play a role in the commission structure but are legitimate participants adhering to licensing regulations.

Unlicensed individuals do not have the qualifications or legal standing to receive commissions for insurance activities. Engaging unlicensed persons in commission-sharing practices violates state insurance laws and regulations, which are designed to protect consumers and ensure that those offering insurance services are adequately trained and monitored.