58-30-88. Premiums received by agent as trust funds--Accounting and payment. All premiums or return premiums received by an insurance producer shall be trust funds received by the licensee in a fiduciary capacity, and the insurance producer or soliciting insurance producer shall account for and pay the same to the insured, insurer, or insurance producer entitled thereto.
Source: SL 1966, ch 111, ch 9, § 28 (1); SL 2001, ch 286, § 173.
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