58-33-24 Rebate, discount, or special advantage as misdemeanor--Exception.
Rebate, discount, or special advantage as misdemeanor--Exception.
No insurer or
any employee or representative thereof, and no insurance producer may pay, allow, or give, or offer
to pay, allow or give, directly or indirectly, as an inducement to insurance, or after insurance has
been effected, any rebate, discount, abatement, credit, or reduction of the premium named in the
policy of insurance, or any special favor or advantage in the dividends or other benefits to accrue
thereon, or any valuable consideration or inducement whatever, not specified in the policy, except
to the extent provided for in an applicable filing with the director as provided by law. Any violation
of this section is a Class 2 misdemeanor.
Source: SL 1966, ch 111, ch 13, § 16 (1); SL 1978, ch 359, § 2; SL 2001, ch 286, § 202.