Section 58-5-86 - Domestic insurer-Management and exclusive agency contracts, disapproval by director, grounds The director shall disapprove any such contract if he finds that it:
(1) Subjects the insurer to excessive charges; or(2) Is to extend for an unreasonable length of time; or(3) Does not contain fair and adequate standards of performance; or(4) Contains any provision which the director deems detrimental to the best interests of stockholders or members of the insurer. SL 1966, ch 111, ch 16, § 23 (2).