2017 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 43 - INSURANCE PRODUCERS AND AGENCIES
Section 38-43-660. Employees or agents of owner authorized to act.
(A) The employee or agent of an owner who is a licensee may act individually on behalf, and under the supervision of, the owner-licensee with respect to providing coverage for which the licensee is authorized to provide, but only if the owner instructs the employee or agent about the kinds of insurance sold pursuant to the owner's license.
(B) The provisions of this chapter do not prohibit:
(1) the payment or receipt of a commission for the sale of insurance that the licensee is authorized to sell; and
(2) the payment of a bonus, incentive payment, or compensation by a licensee to his employee or agent; provided, however, that these payments may not be made based on the completion of a sale of insurance coverage.
HISTORY: 2014 Act No. 226 (S.1065), Section 1, eff June 2, 2014.
