Section 38-43-670 - Prohibited requirements of licensee, employee, or agentNotwithstanding another provision of this chapter, a regulation promulgated by the department, or an order issued by the director, a licensee, his employee, and agent must not be required to:
(1) act as a fiduciary of money received from the sale of insurance authorized to be sold under the provisions of this chapter; or(2) hold this money in a separate trust account if the insurer represented by the license holder provides written consent, signed by an officer of the insurer, that a premium is not required to be segregated from money received by the license holder because of the consumer transaction associated with the coverage.Added by 2014 S.C. Acts, Act No. 226 (SB 1065), s 1, eff. 6/2/2014.