Prohibited requirements of licensee, employee, or agent.

S.C. Code Ann. § 38-43-670
in effect
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Notwithstanding 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t38c043.phpFetched: 10/17/2026

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