62-5-8Commission for placing insurance limited.

No insurer of any obligation under this title may by himself, herself, or through another, either directly or indirectly, charge, accept, or pay as a commission or compensation for placing or renewing any insurance under this title more than fifteen percent of the premium charged.

Source: SL 1917, ch 376, § 51; RC 1919, § 9487; SDC 1939, § 64.0305; SL 2008, ch 278, § 37.