An insurance producer who acts on behalf of another in negotiating a contract of insurance is the insurer's producer for the purpose of receiving the premium. A producer who knowingly procures the payment of a premium of insurance or the obligation for the payment of a premium of insurance by fraudulent representation is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.
S.C. Code Ann. § 38-43-190
Producer receipt of premium; penalty for fraud
Applied in 1 court decision — leading case Spires v. ACCELERATION NATIONAL INSURANCE COMPANY (2006)
Most recently applied in Spires v. ACCELERATION NATIONAL INSURANCE COMPANY (January 2006)
Former 1976 Code SECTION 38-51-210 [1947 (45) 322; 1952 Code SECTION 37-251; 1962 Code SECTION 37-251] recodified as SECTION 38-43-190 by 1987 Act No. 155, SECTION 1; 1988 Act N…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.