58-30-171. Payment to unlicensed insurance producer prohibited.
No insurer or insurance producer may pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under §§58-30-141 to 58-30-195, inclusive, and is not so licensed. Nothing in this section allows an insurer to pay commissions to a nonappointed insurance producer if an appointment is otherwise required.
Source: SL 2001, ch 286, §31.