§ 38-43-10 — Persons considered producers of insurers; excess and surplus lines brokers; using assumed name.

South Carolina § 38-43-10

• Jurisdiction: South Carolina
• Title 38: INSURANCE
• Ch. 43: INSURANCE PRODUCERS AND AGENCIES

Text

(A) A person who: (1) sells, solicits, or negotiates insurance on behalf of an insurer; (2) takes or transmits other than for himself an application for insurance or a policy of insurance to or from an insurer; (3) advertises or otherwise gives notice that he will receive or transmit insurance applications or policies; (4) receives or delivers a policy of insurance of an insurer; (5) receives, collects, or transmits any premium of insurance; or (6) performs any other act in the making of an insurance contract for or with an insurer, other than for himself; whether these acts are done by an employee of an insurer or at the instance or request of an insurer, must be an appointed producer of the insurer for which the act is done or the risk is taken unless provided otherwise in Section 38-43-20. (B) This chapter does not apply to excess and surplus lines brokers licensed pursuant to Section 38-45-30 except as provided in Section 38-43-70. (C) An insurance producer doing business under any name other than the producer's legal name is required to notify the director or his designee prior to using the assumed name.

Legislative History

HISTORY: Former 1976 Code SECTION 38-43-10 [1947 (45) 322; 1952 Code SECTION 37-651; 1962 Code SECTION 37-651] recodified as SECTION 38-73-10 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-51-10 [1947 (45) 322; 1952 Code SECTION 37-233; 1962 Code SECTION 37-233] and SECTION 38-51-15 [1986 Act No. 518, SECTION 2] recodified as SECTION 38-43-10 by 1987 Act No. 155, SECTION 1; 1988 Act No. 371, SECTION 1; 2002 Act No. 323, SECTION 2, eff January 31, 2003; 2003 Act No. 73, SECTION 6, eff June 25, 2003.