Section 58-5-138.1 - Compensation of officer, insurance producer, or employee of converting mutualinsurer prohibited.
58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited. No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.
Source: SL 1984, ch 325, § 2; SL 2001, ch 286, § 74.