South Carolina § 38-57-40 Misrepresentation or false advertising of policies prohibited.

South Carolina Statutes

§ 38-57-40 — Misrepresentation or false advertising of policies prohibited.

South Carolina § 38-57-40

Title 38INSURANCE

Ch. 57TRADE PRACTICES

This text of South Carolina § 38-57-40 (Misrepresentation or false advertising of policies prohibited.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 38-57-40 (2026).

Text

No person may make, issue, circulate, or cause to be made, issued, or circulated any estimate, proposal, circular, or statement misrepresenting the terms of a policy issued or to be issued or the benefits or advantages represented thereby or the dividends or share of the surplus to be received thereon, or make a false or misleading statement as to the dividend or share of surplus previously paid on similar policies or make a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which an insurer operates or use any name or title of a policy or class of policies misrepresenting the true nature thereof.

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No person may make, issue, circulate, or cause to be made, issued, or circulated any estimate, proposal, circular, or statement misrepresenting the terms of a policy issued or to be issued or the benefits or advantages represented thereby or the dividends or share of the surplus to be received thereon, or make a false or misleading statement as to the dividend or share of surplus previously paid on similar policies or make a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which an insurer operates or use any name or title of a policy or class of policies misrepresenting the true nature thereof.

Legislative History

HISTORY: Former 1976 Code SECTION 38-57-40 [1947 (45) 322; 1952 Code SECTION 37-1154; 1962 Code SECTION 37-1154; 1978 Act No. 585, SECTION 4] recodified as SECTION 23-9-340 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-55-40 [1947 (45) 322; 1952 Code SECTION 37-1202; 1962 Code SECTION 37-1204; 1964 (53) 2293] recodified as SECTION 38-57-40 by 1987 Act No. 155, SECTION 1.