58-30-125. Persons not managing general agents.
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/sd/title-58/chapter-58-30/58-30-125·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following persons are not managing general agents for the purposes of §§ 58-30-124 to 58-30-139 , inclusive:
(1)Any employee of the insurer;
(2)Any United States manager of the United States branch of an alien insurer;
(3)Any underwriting manager who, pursuant to contract, manages all the insurance operations of the insurer, is under common control with the insurer, subject to the holding company regulatory act, and whose compensation is not based on the volume of premiums written; or
(4)Any attorney - in - fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.