Industry fund groups--Issuance to commercial correspondent prohibited, exception

No policy may be issued under § 58-16-12 to insure employees of any employer whose eligibility to participate in the fund as an employer arises out of considerations directly related to the employer being a commercial correspondent or business client or patron of another employer, except where such other employer exercises substantial control over the business operations of the participating employers. Source: SL 1966, ch 111 , ch 24, § 1 (4) (a).