South Carolina Statutes
§ 38-43-460 — Conflict of interest prohibited.
Insurance agencies owned, beneficially owned, or controlled, in whole or part, directly or indirectly, by an insurer, the management of an insurer, or related interests are not entitled to the provisions of this article. An insurer is not chargeable with knowledge that an insurance agency is owned, beneficially owned, or controlled by an insurer, the management of an insurer, or related interests unless it has actual knowledge of the fact.
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South Carolina § 38-43-460 (Conflict of interest prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-43-460 [1947 (45) 322; 1952 Code SECTION 37-686; 1962 Code SECTION 37-686] recodified as SECTION 38-73-540 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-51-470 [1962 Code SECTION 37-259.17; 1969 (56) 780] recodified as SECTION 38-43-460 by 1987 Act No. 155, SECTION 1; 2002 Act No. 323, SECTION 2, eff January 31, 2003.
Nearby Sections
15
§ 38-43-10
Persons considered producers of insurers; excess and surplus lines brokers; using assumed name.§ 38-43-100
Individual and agency insurance producer licensing; written examinations; contents of license.§ 38-43-101
Insurance producer applicants licensed in another state; qualifying standards; application process.§ 38-43-106
Continuing education requirements; administrator; advisory committee; exemptions from requirements.§ 38-43-160
Unlawfully representing unlicensed insurer.§ 38-43-20
Producer's license required; exceptions.§ 38-43-210
Selling stock in insurer.