South Carolina Code 38-43-240. Other offenses by producers
Current as of: 2023 | Check for updates
|
Other versions
(A) It is unlawful for a producer, collector, or other person to:
(1) undertake or pretend to represent an insurer licensed to do business in this State, or to collect or do business for the insurer without the authority of the insurer;
Terms Used In South Carolina Code 38-43-240
- Conviction: A judgement of guilt against a criminal defendant.
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
- producer: means a person who represents an insurance company and is required to be licensed pursuant to § 38-43-10. See South Carolina Code 38-1-20
(2) secure cash advances by false statements; or
(3) fail to turn over or satisfactorily account for all collections of the insurer when required.
(B) A person who violates the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than two years.