Section 58-5-86 - Domestic insurer--Management and exclusive agency contracts, disapproval bydirector, grounds.
58-5-86. Domestic insurer--Management and exclusive agency contracts, disapproval by director, grounds. The director shall disapprove any such contract if he finds that it:
(1) Subjects the insurer to excessive charges; or
(2) Is to extend for an unreasonable length of time; or
(3) Does not contain fair and adequate standards of performance; or
(4) Contains any provision which the director deems detrimental to the best interests of stockholders or members of the insurer.
Source: SL 1966, ch 111, ch 16, § 23 (2).