South Carolina Code 38-75-1000. Restrictions on amount of commission
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-75-1000
- Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
- insurance: includes annuities. See South Carolina Code 38-1-20
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- Policy: means a contract of insurance. See South Carolina Code 38-1-20
A title insurer may not pay a commission, directly or indirectly, of greater than sixty percent on a title insurance policy.