Insurance agencies owned, beneficially owned, or controlled, in whole or part, directly or indirectly, by an insurer, the management of an insurer, or related interests are not entitled to the provisions of this article. An insurer is not chargeable with knowledge that an insurance agency is owned, beneficially owned, or controlled by an insurer, the management of an insurer, or related interests unless it has actual knowledge of the fact. HISTORY: Former 1976 Code Section 38-43-460 [1947 (45) 322; 1952 Code Section 37-686; 1962 Code Section 37-686] recodified as Section 38-73-540 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-51-470 [1962 Code Section 37-259.17; 1969 (56) 780] recodified as Section 38-43-460 by 1987 Act No. 155, Section 1; 2002 Act No. 323, Section 2, eff January 31, 2003.
South Carolina Legal Code