A licensed funeral director employed by a licensed funeral home in South Carolina may be licensed as an agent for a life insurer doing business in this State. However, a funeral director licensed under this section may act only as an agent for a life insurer in connection with the funding of a preneed funeral contract under Chapter 7, Title 32. The amount of an insurance policy sold by a licensed funeral director licensed under this section may not exceed the amount of the preneed funeral contract as defined in Section 32-7-10(3). In addition to the filing and approval requirements of Section 38-61-20, a life insurer must file a sample policy to fund a preneed funeral contract with the South Carolina Board of Funeral Service. The board also shall maintain a list of all funeral directors licensed as insurance agents, the insurer each director represents, and the type of policy each director is licensed to sell. Except for a funeral director licensed under this title, no insurance agent, as defined in Section 38-1-20, or person, as defined in Section 38-1-20, shall sell any policy, as defined in Section 38-1-20, which has for its purposes the funding of any funeral services, or the furnishing or delivery of personal property, merchandise, services of any nature in connection with the final disposition of a dead human body, to be furnished or delivered at a time determinable by the death of a person whose body is to be disposed of, but does not mean the furnishing of a cemetery lot, crypt, niche, mausoleum, grave marker, or monument.
HISTORY: Former 1976 Code Section 38-55-330 [1962 Code Section 37-1233; 1964 (53) 2293] recodified as Section 38-57-240 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-9-530 [1948 (45) 1947; 1952 Code Section 37-178; 1962 Code Section 37-178] recodified as Section 38-55-330 by 1987 Act No. 155, Section 1; 1995 Act No. 67, Section 6; 2002 Act No. 313, Section 1, eff upon approval (became law without the Governor's signature on June 6, 2002).
Structure South Carolina Code of Laws
Chapter 55 - Conduct Of Insurance Business
Section 38-55-10. No contracts may be made except under this title.
Section 38-55-20. Insurers shall do business in own name; combination policy.
Section 38-55-30. Limitation of risk; section not applicable to captive insurers.
Section 38-55-40. Certain inducements may not be offered.
Section 38-55-50. Discrimination prohibited.
Section 38-55-60. Punishment and revocation of license for discrimination.
Section 38-55-70. Secured loans lawful.
Section 38-55-75. Confidentiality of information received by Department of Insurance.
Section 38-55-80. Loans to directors or officers.
Section 38-55-90. Tontine policies prohibited.
Section 38-55-100. Tontine plans prior to May 12, 1947.
Section 38-55-110. Reserve requirements for tontine policies.
Section 38-55-120. Procedure when insurer fails to pay final judgment.
Section 38-55-130. Doing business after charter has been canceled or surrendered is unlawful.
Section 38-55-150. Accepting premiums or assessments in insolvent insurer.
Section 38-55-160. Insuring uninsurable persons with intent to defraud.
Section 38-55-170. Presenting false claims for payment.
Section 38-55-173. Unlawful vehicle glass repair business practices; penalties.
Section 38-55-310. Life insurers may not operate undertaking business.
Section 38-55-320. Insurers may not contract with undertakers for funerals.
Section 38-55-330. Funeral director may act as agent for life insurer for preneed funeral contract.
Section 38-55-510. Short title.
Section 38-55-520. Purpose of article.
Section 38-55-530. Definitions.