Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 38 - INSURANCEChapter 43 - INSURANCE PRODUCERS AND AGENCIES
Article 1 - GENERAL PROVISIONS
Section 38-43-170 - Personal liability of producers on contracts of unauthorized insurers

S.C. Code § 38-43-170

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Current through 2024 Act No. 225.
Section 38-43-170 - Personal liability of producers on contracts of unauthorized insurers

An insurance producer is personally liable on all contracts of insurance unlawfully made by or through him, directly or indirectly, for an insurer not authorized to do business in this State. A person who writes or signs any open policy, certificate, blank, or coupon of, or furnished by, an unlicensed company, producer, or broker, the effect of which is to bind any insurance in an unlicensed insurer on property in this State, is the producer of the insurer and personally liable for all licenses and taxes due on account of the transaction.

S.C. Code § 38-43-170

2002 Act No. 323, Section 2, eff 1/31/2003; 1962 Code Section 37-250] recodified as Section 38-43-170 by 1987 Act No. 155, Section 1; 1952 Code Section 37-250; Former 1976 Code Section 38-51-190 [1947 (45) 322.