Section 58-33-11 - Stock operations and advisory board contracts as inducement--Misdemeanor

58-33-11. Stock operations and advisory board contracts as inducement--Misdemeanor.No person may issue or deliver or permit its insurance producers, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in any common law corporation, or any advisory board contract or other similar contract of any kind promising returns and profits as an inducement to insurance. Any violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 13, §11; SL 1978, ch 359, §2; SL 2001, ch 286, §200.