South Carolina Statutes
§ 38-45-120 — Personal liability of broker on policy of unlicensed insurer.
Every insurance broker who sells an insurance policy written or issued by an insurer not licensed to do business in this State is personally liable for the limits of the coverage provided for in the policy if the broker fails to comply with the provisions of this title relating to policies issued by insurers not licensed to do business in this State.
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South Carolina § 38-45-120 (Personal liability of broker on policy of unlicensed insurer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-45-120 [1947 (45) 322; 1952 Code SECTION 37-812; 1962 Code SECTION 37-812] recodified as SECTION 38-17-120 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-47-140 [1960 (51) 1630; 1962 Code SECTION 37-210.1] recodified as SECTION 38-45-120 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 672; 2012 Act No. 283, SECTION 1, eff January 1, 2012.
Nearby Sections
15
§ 38-45-10
Definitions.§ 38-45-100
Brokers may divide commissions.§ 38-45-140
Revocation of license of broker.§ 38-45-150
Penalties.§ 38-45-160
Brokers policy fees.§ 38-45-180
Authority of department.§ 38-45-190
Authority of director.