58-14-44. Restrictions on who may act as agent.
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/sd/title-58/chapter-58-14/58-14-44·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No person, firm, association, or corporation may act as an agent:
(1)For a reinsurer domiciled in this state, unless the agent is a licensed producer in this state;
(2)In this state, if the agent maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation in this state, unless the agent is a licensed producer in this state;
(3)In another state for a nondomestic insurer, unless the agent is a licensed producer in this state or another state having a law substantially similar to this law or the person is licensed in this state as a nonresident reinsurance intermediary.