58-33-14 Rebate as misdemeanor--Life, disability and annuity contracts.
Rebate as misdemeanor--Life, disability and annuity contracts.
Except as otherwise
provided by law, no person shall knowingly permit or offer to make or make any contract of life
insurance, life annuity or health insurance, or agreement as to such contract other than is plainly
expressed in the contract issued thereon, or pay or allow, or give or offer to pay, allow, or give,
directly or indirectly, as inducement to such insurance, or annuity, any rebate of premiums payable
on the contract, or any special favor or advantage in the dividends or other benefits thereon, or any
paid employment or contract for services of any kind, or any valuable consideration or inducement
whatever not specified in the contract; or directly or indirectly give or sell, or purchase or offer or
agree to give, sell, purchase, or allow as inducement to such insurance or annuity or in connection
therewith, and whether or not to be specified in the policy or contract, any agreement of any form
or nature promising returns and profits, or any stocks, bonds, or other securities, or interest present
or contingent therein or as measured thereby, of any insurance company or other corporation,
association, or partnership, or any dividends or profits accrued or to accrue thereon; or offer, promise
or give anything of value whatsoever not specified in the contract. Violation of this section is a Class
Source: SL 1966, ch 111, ch 13, § 13; SL 1978, ch 359, § 2.