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Section 38-57-40. Misrepresentation or false advertising of policies prohibited.

SC Code § 38-57-40 (2019) (N/A)
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No person may make, issue, circulate, or cause to be made, issued, or circulated any estimate, proposal, circular, or statement misrepresenting the terms of a policy issued or to be issued or the benefits or advantages represented thereby or the dividends or share of the surplus to be received thereon, or make a false or misleading statement as to the dividend or share of surplus previously paid on similar policies or make a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which an insurer operates or use any name or title of a policy or class of policies misrepresenting the true nature thereof.

HISTORY: Former 1976 Code Section 38-57-40 [1947 (45) 322; 1952 Code Section 37-1154; 1962 Code Section 37-1154; 1978 Act No. 585, Section 4] recodified as Section 23-9-340 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-55-40 [1947 (45) 322; 1952 Code Section 37-1202; 1962 Code Section 37-1204; 1964 (53) 2293] recodified as Section 38-57-40 by 1987 Act No. 155, Section 1.

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Section 38-57-30. Unfair methods and deceptive acts prohibited.
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Section 38-57-45. Use of state seal prohibited in advertising or promotion unless expressly approved; state endorsement disclaimer required on solicitation to state employees.