South Carolina Statutes
§ 38-43-660 — Employees or agents of owner authorized to act.
(A)The employee or agent of an owner who is a licensee may act individually on behalf, and under the supervision of, the owner-licensee with respect to providing coverage for which the licensee is authorized to provide, but only if the owner instructs the employee or agent about the kinds of insurance sold pursuant to the owner's license.
(B)The provisions of this chapter do not prohibit:
(1)the payment or receipt of a commission for the sale of insurance that the licensee is authorized to sell; and (2) the payment of a bonus, incentive payment, or compensation by a licensee to his employee or agent; provided, however, that these payments may not be made based on the completion of a sale of insurance coverage.
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South Carolina § 38-43-660 (Employees or agents of owner authorized to act.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2014 Act No. 226 (S.1065), SECTION 1, eff June 2, 2014.
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.