S.C. Code Ann. § 38-81-250 — SC Code / Title 38 / Chapter 81 / Article 3 / Section 38-81-250
SECTION 38-81-250. Plan of operation.
Status: in_force

(A) Not less than thirty nor more than ninety days after the effective date of this article the director or his designee, after consultation with the members of the association, representatives of the public, the South Carolina Bar, and other affected individuals and organizations, shall promulgate a plan of operation consistent with this article. The plan of operation becomes effective and operative no later than thirty days after the declaration of an emergency by the department. (B) The plan of operation shall provide for economic, fair, and nondiscriminatory administration and for the prompt and efficient- provision of legal professional liability insurance and may contain other provisions including, but not limited to, preliminary assessment of all members for initial expenses necessary to commence operations, establishment of necessary facilities, management of the association, assessment of the members to defray losses and expenses, commission arrangements, reasonable and objective underwriting standards, acceptance and cession of reinsurance, appointment of servicing carriers, and procedures for determining amounts of insurance to be provided by the association. (C) The plan of operation shall provide that any profit achieved by the association must be added to the reserves of the association or returned to the policyholders as a dividend. (D) Amendments to the plan of operation may be made by the directors of the association with the approval of the director or his designee or must be made at the direction of the director or his designee after proper notice and public hearing.
S.C. Code Ann. § 38-57-10 — SC Code / Title 38 / Chapter 57 / Section 38-57-10
SECTION 38-57-10. Declaration of purpose.
Status: in_force

The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the act of Congress of March 9, 1945, (Public Law 15, 79th Congress), by defining, or providing for the determination of, all the practices in this State which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.
S.C. Code Ann. § 38-9-80 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-80
SECTION 38-9-80. Certificates of deposits or securities required; amounts; factors considered in setting amounts; limits.
Status: in_force

(A) The director or his designee shall require every insurer transacting, or desiring to transact, business in this State to deposit with him certificates of deposit of building and loan associations chartered by South Carolina or federal savings and loan associations located within the State in which deposits are guaranteed by the Federal Savings and Loan Insurance Corporation, not to exceed the amount covered by insurance, or of national banks located within the State or banks chartered by South Carolina in which deposits are guaranteed by the Federal Deposit Insurance Corporation, not to exceed the amount covered by insurance, or other securities which: (1) qualify as legal investments under the laws of this State for public sinking funds; (2) are not in default as to principal or interest; (3) have a current market value of not less than ten thousand nor more than two hundred thousand dollars, as determined by the director or his designee pursuant to the standards promulgated by the department. (B) The director or his designee shall prescribe the amount, within the limits of this section, of the securities required, and he subsequently may increase or decrease the amount required. (C) Notwithstanding the limitations in this section as to the amount of deposits required, the director or his designee may require an insurer to deposit an amount of securities in excess of the limits based on his consideration of the following: (1) adverse findings reported in financial condition and market conduct examination reports; (2) the National Association of Insurance Commissioners Insurance Regulatory Information System and its related reports; (3) the ratios of commission expense, general insurance expense, policy benefits, and reserve increases as to annual premium and net investment income which could lead to a significant adjustment to an insurer's capital and surplus; (4) whether the insurer's asset portfolio when viewed in light of current economic conditions is not of sufficient value, liquidity, or diversity to assure the insurer's ability to meet its outstanding obligations as they mature; (5) whether an insurer had a significant operating loss in the last twelve months or a shorter time; (6) whether an affiliate, subsidiary, or a reinsurer is insolvent, threatened with insolvency, or delinquent in payment of its monetary or other obligations; (7) contingent liabilities, pledges, or guaranties which individually or collectively involve a total amount which in the opinion of the director or his designee may affect the solvency of the insurer; (8) whether the management of an insurer, including officers, directors, or other persons who directly or indirectly controls the operation of the insurer, fails to possess and demonstrate the competence, fitness, and reputation necessary to serve the insurer in that position; (9) whether management has failed to respond to inquiries relative to the condition of the insurer or has furnished false and misleading information concerning an inquiry; (10) whether the insurer has grown so rapidly and to an extent that it lacks adequate financial and administrative capacity to meet its obligations in a timely manner; (11) whether the insurer has experienced or will experience in the foreseeable future cash flow or liquidity problems.
S.C. Code Ann. § 38-53-100 — SC Code / Title 38 / Chapter 53 / Section 38-53-100
SECTION 38-53-100. Fees.
Status: in_force

(A) A license fee of four hundred dollars must be paid to the director or his designee with each application for a license as a professional bondsman. The director or his designee shall forward four hundred dollars to the State Treasurer to be placed in the general fund; however, of the four hundred dollars, two hundred dollars must be paid over to the director or his designee to offset the costs he incurs under the provisions of this chapter, and two hundred dollars must be paid over to the State Law Enforcement Division to offset the costs it may incur under the provisions of this chapter. (B) A license fee of two hundred dollars must be paid to the director or his designee with each application for a license as a runner. The director or his designee shall forward two hundred dollars to the State Treasurer to be placed in the general fund; however, of the two hundred dollars, one hundred dollars must be paid over to the director or his designee to offset the costs he incurs under the provisions of this chapter, and one hundred dollars must be paid over to the State Law Enforcement Division to offset the costs it incurs under the provisions of this chapter. (C) The director or his designee shall forward forty percent of all fees collected under subsections (A) and (B) of this section to the clerk of court of the county where the principal place of business of the bondsman or runner is located. The remaining sixty percent of collected fees must be forwarded to the State Treasurer to be placed in the general fund, of which one-third must be paid to the State Law Enforcement Division, and two-thirds must be paid to the director or his designee to offset expenses incurred under the provisions of this chapter. (D) In addition to the fees herein provided, a professional or surety bondsman shall pay to the clerk of court of his home county the sum of one hundred fifty dollars annually for each licensee to be paid directly to and retained by the clerk. In addition, each bondsman and runner shall pay to any other county where he is doing business the sum of one hundred dollars to be paid to and retained by the clerk. The fee must be paid annually and directly to the clerk of court who shall deposit it in an account maintained by the clerk.
S.C. Code Ann. § 38-19-815 — SC Code / Title 38 / Chapter 19 / Article 9 / Section 38-19-815
SECTION 38-19-815. Definitions.
Status: in_force

For the purposes of this article: (1) "Bulk reinsurance and assumption for the purposes of liquidation" means a transaction in which a mutual insurer wholly reinsures its business with another insurer, transfers all or part of its assets to the other insurer in exchange for an assumption of all of its risks and obligations by the other insurer and proceeds to liquidation. (2) "Merger" means a transaction in which a mutual insurer is absorbed by another mutual insurer, its assets, franchises, powers, and liabilities are acquired by the other insurer, and it ceases to exist as a separate business entity. (3) "Conversion" means a transaction in which a mutual insurer reorganizes as a stock insurer and the ownership rights of the members of the mutual insurer are exchanged for cash, stock, or both stock and cash as may be provided by the plan of conversion.
S.C. Code Ann. § 38-5-200 — SC Code / Title 38 / Chapter 5 / Section 38-5-200
SECTION 38-5-200. Required use of particular insurance premium finance company or other installment plan prohibited; other prohibited acts.
Status: in_force

(A) An insurer, its agent, or an insurance broker doing business in this State may not require a person to use a particular insurance premium finance company or other installment plan for which a finance charge or other fee in connection with an installment payment has been or will be imposed. (B) An insurer, its agent, or an insurance broker doing business in this State may not refuse to issue a policy of insurance solely because the premiums for the policy have been advanced by a premium finance company licensed in this State. (C) An insurer or its agent doing business in this State shall not reduce commission or intimidate or retaliate against a producer, agent, broker, or insured who uses premium financing by denying the producer, agent, broker, or insured the same rights accorded producers, agents, brokers, or insureds who pay premiums in a different manner.
S.C. Code Ann. § 38-77-840 — SC Code / Title 38 / Chapter 77 / Article 8 / Section 38-77-840
SECTION 38-77-840. Powers of director.
Status: in_force

The director may in its discretion, after reviewing all information pertaining to the applicant or policyholder available from its records, the records of the department, or from other sources: (1) refuse to assign an application; (2) approve the rejection of an application by an insurance carrier; (3) approve the cancellation of a policy of motor vehicle liability, physical damage, and medical payments insurance by an insurance carrier; or (4) refuse to approve the renewal or the reassignment of an expiring policy.
S.C. Code Ann. § 38-73-1030 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1030
SECTION 38-73-1030. Review of filings on application of person aggrieved.
Status: in_force

Any person or organization aggrieved with respect to any filing which is in effect may make written application to the director or his designee for a hearing thereon, except that the insurer or rating organization that made the filing may not proceed under this section. The application shall specify the grounds to be relied upon by the applicant. If, within thirty days after receipt of the application, the director or his designee finds that the application is made in good faith, that the applicant would be so aggrieved if his grounds are established, and that the grounds otherwise justify holding a hearing, he shall hold a hearing upon not less than thirty days' written notice to the applicant and to every insurer and rating organization which made the filing. If, after the hearing, the director or his designee finds that the filing does not meet the requirements of this chapter, he shall issue an order specifying in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is considered no longer effective. Copies of the order must be sent to the applicant and to every insurer and rating organization which made the filing. The order does not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
S.C. Code Ann. § 38-38-310 — SC Code / Title 38 / Chapter 38 / Article 7 / Section 38-38-310
SECTION 38-38-310. Contractual benefits allowed; persons covered.
Status: in_force

(A) A society may provide the following contractual benefits in any form: (1) death; (2) endowment; (3) annuity; (4) temporary or permanent disability; (5) hospital, medical, or nursing; (6) monument or tombstone benefits to the memory of deceased members; and (7) other benefits as authorized for life insurers under this title, provided the benefit is: (a) offered in compliance with the requirements of this title, and (b) consistent with this chapter. (B) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (A), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.
S.C. Code Ann. § 38-71-990 — SC Code / Title 38 / Chapter 71 / Article 5 / Section 38-71-990
SECTION 38-71-990. Effective date of this subarticle.
Status: in_force

The provisions of this subarticle apply to each health insurance plan for a small employer that is delivered, issued for delivery, renewed, or continued in this State after the effective date of this subarticle. For purposes of this section, the date a plan is continued is the first rating period which commences after the effective date of this subarticle.
S.C. Code Ann. § 38-57-160 — SC Code / Title 38 / Chapter 57 / Section 38-57-160
SECTION 38-57-160. Advertising gifts permitted.
Status: in_force

Sections 38-57-130, 38-57-140, and 38-57-150 do not prohibit a licensed agent from giving to insureds, prospective insureds, and to others, for the purpose of advertising, an article of merchandise having a value of not more than twenty-five dollars and having an advertisement for the insurer or agent printed on it. Nothing within this section precludes a licensed agent from providing refreshments during a sales presentation which do not exceed ten dollars a person in cost.
S.C. Code Ann. § 38-13-320 — SC Code / Title 38 / Chapter 13 / Article 3 / Section 38-13-320
SECTION 38-13-320. Data in supplemental report.
Status: reserved

The supplemental report may include, but is not limited to, the following data both as to this State and the United States for the previous year ending on December thirty-first: (a) direct premiums written, (b) direct premiums earned, (c) net investment income, including net realized capital gains and losses, using appropriate estimates where necessary, (d) incurred claims, developed as the sum of the following (the report shall include data for each of the following categories used to develop the sum of incurred claims): (1) dollar amount of claims closed with payment, plus (2) dollar amount of payments on claims still open, plus (3) reserves for reported claims at the end of the current year, minus (4) reserves for reported claims at the end of the previous year, plus (5) reserves for incurred but not reported claims at the end of the current year, minus (6) reserves for incurred but not reported claims at the end of the previous year, plus (7) loss adjustment expenses for claims closed, plus (8) reserves for loss adjustment expense at the end of the current year, minus (e) actual incurred expenses allocated separately to loss adjustment, commissions, other acquisition costs, advertising, general office expenses, taxes, licenses and fees, and all other expenses; (f) net underwriting gain or loss; (g) net operation gain or loss, including net investment income; (h) the number and dollar amount of claims closed with payment, by year incurred and the amount reserved for them; (i) the number of claims closed without payment and the dollar amount reserved for those claims; (j) federal income tax recoverable; and (k) any other information requested by the director or his designee.
S.C. Code Ann. § 38-77-230 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-230
SECTION 38-77-230. Certain payments under automobile insurance policy are not to be construed as admission or recognition of liability.
Status: in_force

No payment made under an automobile insurance policy of a claim against any insured thereunder arising from any accident or other event insured against for damage to or destruction of property owned by another person is to be construed as an admission of liability by the insured, or the insurer's recognition of liability, with respect to any other claim arising from the same accident or event.
S.C. Code Ann. § 38-61-30 — SC Code / Title 38 / Chapter 61 / Section 38-61-30
SECTION 38-61-30. Promulgation of standards for readability of certain contracts and policies.
Status: in_force

The department shall promulgate regulations which establish minimum standards for the readability of each homeowners, dwelling fire, automobile, accident and health, life, and all other forms of personal insurance, excluding commercial, fleet vehicle, and group insurance, which must be complied with by all insurers authorized to do business in this State. The standards shall include, but are not limited to, standards on an index of policy provisions, general organization of text, text readability, type size, type style, type spacing, and general appearance of the insurance contract.
S.C. Code Ann. § 38-71-1545 — SC Code / Title 38 / Chapter 71 / Article 15 / Section 38-71-1545
SECTION 38-71-1545. Exclusion of certain insurance policies.
Status: in_force

The provisions of this article do not apply to a policy which provides disability or income protection coverage, hospital confinement indemnity coverage, accident-only coverage, specified disease or specified accident coverage, long-term care coverage, vision-only coverage, or coverage issued as a supplement to Medicare.
S.C. Code Ann. § 38-61-10 — SC Code / Title 38 / Chapter 61 / Section 38-61-10
SECTION 38-61-10. Contracts which are considered made in State.
Status: in_force

All contracts of insurance on property, lives, or interests in this State are considered to be made in the State and all contracts of insurance the applications for which are taken within the State are considered to have been made within this State and are subject to the laws of this State.
S.C. Code Ann. § 38-83-160 — SC Code / Title 38 / Chapter 83 / Section 38-83-160
SECTION 38-83-160. Board of directors for joint underwriting association.
Status: in_force

Each joint underwriting association is governed by a board of seven directors, one of whom is appointed by the Governor to represent the general public and four of whom are appointed by the Governor and represent professionals covered under the association. Two directors are the Chairman of the Labor, Commerce and Industry Committee of the House of Representatives or his designee and the Chairman of the Banking and Insurance Committee of the Senate or his designee, both of whom shall serve ex officio. The approved plan of operation of the association may make provision for combining insurers under common ownership or management into groups for voting, assessment, and all other purposes and may provide that not more than one of the officers or employees of such a group may serve as a director at any one time. The Director of the Department of Insurance is chairman of the board of directors, ex officio, and he, or his designee, must preside at all meetings of the board but has no vote except in the case of a tie.
S.C. Code Ann. § 38-45-55 — SC Code / Title 38 / Chapter 45 / Section 38-45-55
SECTION 38-45-55. Revenue.
Status: in_force

The revenue collected from the broker's premium tax rate imposed pursuant to the provisions of Sections 38-45-20(5), 38-45-30(4), and 38-45-190, must be credited to a special earmarked fund, distinct from the general fund, and expended only for the purposes provided in this chapter. Code Commissioner's Note At the direction of the Code Commissioner, the reference to "38-45-30(6)" was corrected to reference "38-45-30(4)" to reflect the amendment of Section 38-45-30 by 2016 Act No. 194.
S.C. Code Ann. § 38-55-50 — SC Code / Title 38 / Chapter 55 / Article 1 / Section 38-55-50
SECTION 38-55-50. Discrimination prohibited.
Status: in_force

An insurer, its agent, or an insurance broker doing business in this State may not make or permit any discrimination in favor of individuals between insureds of the same class and risk involving the same hazards in the amount of the payment of premiums or rates charged for policies of insurance except as provided in Sections 38-57-140, 38-65-310, and 38-71-1110, in the dividends or other benefits payable, or in any other of the terms and conditions of the contracts it makes. An insurer, its agent, or an insurance broker may not make a contract of insurance or agreement as to a contract other than as plainly expressed in the policy issued. An insurer or its officer, agent, solicitor, or representative or an insurance broker may not pay, allow, or give or offer to pay, allow, or give, directly or indirectly, as inducement to the taking of insurance any rebate of premium payable on the policy, any special favor or advantage in the dividends or other benefits to accrue from the policy, any paid employment or contract for services of any kind, or any valuable consideration or inducement not specified in the policy contract of insurance, or give, sell, or purchase or offer to give, sell, or purchase, as inducement to the taking of insurance or in connection therewith, any stocks, bonds, or other securities of an insurer or other corporation, association, or partnership, any dividends or profits to accrue from them, or anything of value not specified in the policy. This section does not prohibit a licensed agent or broker from charging administrative fees, as promulgated by the Department of Insurance by regulation, for incidental services associated with uninsured motorist related transactions and the electronic reporting of information to the Department of Motor Vehicles. However, fees for uninsured motorist related transactions may be charged only to consumers who have had a lapse in their automobile coverage. Notice of these fees must be posted prominently in the agent's or broker's office. This section does not prohibit the payment of a fee to a trade or professional association exempt from income tax under Section 501(c) of the Internal Revenue Code. Further, this section does not prohibit the rebating of any commission to the insured on an automobile insurance policy collected by, or on behalf of, a licensed insurance agent.
S.C. Code Ann. § 38-38-20 — SC Code / Title 38 / Chapter 38 / Article 1 / Section 38-38-20
SECTION 38-38-20. Lodge system operating requirements; lodges for children.
Status: in_force

(A) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated, or admitted in accordance with its bylaws, rules, and ritual. Subordinate lodges must be required by the bylaws of the society to hold regular meetings at least once in each month in furtherance of the purposes of the society. (B) A society may, at its option, organize and operate lodges for children under the minimum age for adult membership. Membership and initiation in local lodges may not be required of these children, nor shall these children have a voice or vote in the management of the society.
S.C. Code Ann. § 38-83-180 — SC Code / Title 38 / Chapter 83 / Section 38-83-180
SECTION 38-83-180. Filing statements of transactions and other matters.
Status: in_force

The association shall file in the office of the Department of Insurance annually by March first a statement containing information with respect to its transactions, condition, operations, and affairs during the preceding year. The statement shall contain information prescribed by the director or his designee and must be in the form he directs. The director or his designee, at any reasonable time, may require the association to furnish additional information concerning its transactions, condition, or any matter connected therewith considered to be material and of assistance in evaluating the scope, operations, and experience of the association.
S.C. Code Ann. § 38-99-30 — SC Code / Title 38 / Chapter 99 / Section 38-99-30
SECTION 38-99-30. Investigation of cybersecurity events; records.
Status: in_force

(A) If a licensee learns that a cybersecurity event has occurred or may have occurred, the licensee, an outside vendor, or service provider designated to act on behalf of the licensee must conduct a prompt investigation of the event. (B) During the investigation, the licensee, outside vendor, or service provider designated to act on behalf of the licensee shall, at a minimum: (1) determine whether a cybersecurity event occurred; (2) assess the nature and scope of the cybersecurity event; (3) identify nonpublic information that may have been involved in the cybersecurity event; and (4) perform or oversee reasonable measures to restore the security of the information systems compromised in the cybersecurity event in order to prevent further unauthorized acquisition, release, or use of nonpublic information in the licensee's possession, custody, or control. (C) If the licensee learns that a cybersecurity event has occurred or may have occurred in a system maintained by a third-party service provider, the licensee shall complete an investigation pursuant to the requirements of this section or confirm and document that the third-party service provider has completed an investigation pursuant to the requirements of this section. (D) The licensee shall maintain records concerning all cybersecurity events for a period of at least five years from the date of the cybersecurity event and produce those records upon demand of the director. Editor's Note 2018 Act No. 171, SECTIONS 1 and 2, provide as follows: "SECTION 1. The purpose and intent of this act is to establish standards for data security and standards for the investigation of and notification to the director of a cybersecurity event applicable to licensees. This act may not be construed to create or imply a private cause of action for a violation of its provisions nor may it be construed to curtail a private cause of action which would otherwise exist in the absence of this act. "SECTION 2. This act is known and may be cited as the 'South Carolina Insurance Data Security Act'."
S.C. Code Ann. § 38-13-1050 — SC Code / Title 38 / Chapter 13 / Article 9 / Section 38-13-1050
SECTION 38-13-1050. Confidentiality of information submitted to director; prohibition against testifying in private civil actions; performance of director's regulatory duties.
Status: in_force

(A) Documents, materials, or other information including the CGAD in the possession or control of the Department of Insurance that are obtained by, created by, or disclosed to the director or any other person under this article, are recognized by this State as being proprietary and containing trade secrets. All such documents, materials, or other information are confidential by law and privileged, are not subject to disclosure under the South Carolina Freedom of Information Act, Section 30-4-10, et seq. and are not subject to subpoena, to discovery or admissible into evidence in a private civil action. However, the director is authorized to use the documents, materials, or other information in furtherance of regulatory or legal action brought as a part of the director's official duties. The director shall not otherwise make the documents, materials, or other information public without the prior written consent of the insurer. Nothing in this section may be construed to require written consent of the insurer before the director may share or receive confidential documents, materials, or other CGAD-related information to assist in the performance of the director's duties. (B) Neither the director nor any person who received documents, materials, or other CGAD-related information, through examination or otherwise, while acting under the authority of the director, or with whom such documents, materials, or other information are shared may be permitted or required to testify in a private civil action covering any confidential documents, materials, or information submitted pursuant to this article. (C) In order to assist in the performance of the director's regulatory duties the director may: (1) upon request, share documents, materials, or other CGAD-related information including the confidential and privileged documents, materials, or information, including proprietary and trade secret documents and materials with other state, federal, and international financial regulatory agencies including members of any supervisory college as defined in Section 38-21-285 with the NAIC and with third-party consultants pursuant to Section 38-13-1060, provided that the recipient agrees in writing to maintain the confidentiality and privileged status of the CGAD-related documents, material, or other information and has certified in writing the legal authority to maintain confidentiality; and (2) receive documents, materials, or other CGAD-related information, including otherwise confidential and privileged documents, materials, or information, including proprietary and trade secret information or documents, from regulatory officials of other state, federal, and international financial regulatory agencies, including members of any supervisory college as defined in Section 38-21-285 and from the NAIC, and shall maintain as confidential or privileged any documents, materials, or information received with notice of the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the documents, materials, or information. (D) The sharing of information and documents by the director pursuant to the provisions of this article do not constitute a delegation of regulatory authority or rulemaking and the director is solely responsible for the administration, execution, and enforcement of the provisions of this article. (E) No waiver of any applicable privilege or claim of confidentiality in the documents, proprietary and trade secret materials, or other CGAD-related information may occur as a result of disclosure of the CGAD-related information or documents to the director under this section or as a result of sharing as authorized pursuant to this section.
S.C. Code Ann. § 38-41-20 — SC Code / Title 38 / Chapter 41 / Section 38-41-20
SECTION 38-41-20. License required; transaction of business; exemptions.
Status: in_force

It is unlawful for any multiple employer self-insured health plan to transact business in this State without a license issued by the director or his designee. Any of the acts described in items (1) through (8) of Section 38-25-110, effected by mail or otherwise by or on behalf of a multiple employer self-insured health plan, constitutes the transaction of business in this State. Any multiple employer self-insured health plan which transacts business in this State without the license required by this chapter is considered to be an unauthorized insurer within the meaning of Chapter 25 of this title and all remedies and penalties prescribed therein are fully applicable. This Chapter 41 does not apply to any plan or arrangement established or maintained by municipalities, counties, or other political subdivisions of the state or any multiple employer self-insured health plan which is not subject to the application of state insurance laws under the provisions of the Employee Retirement Income Security Act of 1974 (29 U.S.C., Sections 1001, et seq.). A multiple employer self-insured health plan which was in existence prior to July 1, 1985, and which is associated with or organized or sponsored by a homogenous association exempt from taxation under United States Code, Title 26, Section 501(c)(6), and controlled by a board of directors a majority of whom are members of the association, is exempt from the requirements of this chapter and the insurance laws of this State. To prove exemption from taxation under 26 U.S.C., Section 501(c)(6), the association shall provide to the director or his designee a certificate issued by the United States Internal Revenue Service demonstrating the association's tax-exempt status.
S.C. Code Ann. § 38-33-210 — SC Code / Title 38 / Chapter 33 / Section 38-33-210
SECTION 38-33-210. Notification of grounds for denial, suspension or revocation of certificate of authority; hearings; judicial review.
Status: in_force

(A) When the director or his designee has cause to believe that grounds for the denial of an application for a certificate of authority exist, or that grounds for the suspension or revocation of a certificate of authority exist, he shall notify the health maintenance organization in writing specifically stating the grounds for denial, suspension, or revocation and fixing a time of at least thirty days thereafter for a hearing on the matter. However, if the ground for suspension or revocation relates solely to financial condition, the director or his designee may immediately and without hearing suspend the certificate of authority of the health maintenance organization. (B) The provisions of Article 3, Chapter 23, Title 1, apply to administrative proceedings under this section. Whenever the director or his designee issues an order of suspension without an administrative hearing before the director or his designee based upon a health maintenance organization's financial condition, as authorized under subsection (A), the health maintenance organization has a right to judicial review before the Administrative Law Court in accordance with law.
S.C. Code Ann. § 38-85-30 — SC Code / Title 38 / Chapter 85 / Section 38-85-30
SECTION 38-85-30. Requirements for insurer's participation in consolidation.
Status: in_force

(A) No insurer may participate in any consolidation, other than a loan transfer consolidation, unless it complies with the following requirements: (1) The offer of new coverage must be made to the mortgage debtors not less than thirty days prior to the proposed effective date of the new coverage. (2) In conjunction with the offer of new coverage, the new insurer shall disclose in writing to each debtor the following: (a) that the insured debtor may have the right to continue or convert his old coverage by paying premiums directly to the old insurer; (b) that the offer of new coverage is not conditioned upon either the termination or replacement of the old coverage; (c) the name and address of the old and the new insurer; (d) the effective date of the new coverage; (e) that the financial institution is the primary beneficiary of the new coverage; (f) whether premium rates under the new plan are guaranteed; (g) material differences between the new plan and the old plan; (h) that payment of the required premium constitutes acceptance of the new coverage. (B) An insurer which fails to comply with item (1) of subsection (A) of this section shall notify the debtor, in writing, that he has the right to an unconditional refund of all premiums paid for the new coverage as long as he exercises that right, in writing, within thirty days from the notification. (C) Disclosures required under this section may be made on behalf of the new insurer by the financial institution.
S.C. Code Ann. § 38-75-385 — SC Code / Title 38 / Chapter 75 / Article 5 / Section 38-75-385
SECTION 38-75-385. Liability for acts or omissions under this article.
Status: in_force

There is no liability on the part of, and no cause of action of any nature may arise against, any member insurer, the association's agents or employees, the board of directors, or the director, his designees, or his representatives for any act or omission in the performance of their powers and duties under this article. This section does not relieve the association of any of its liability.
S.C. Code Ann. § 38-47-30 — SC Code / Title 38 / Chapter 47 / Section 38-47-30
SECTION 38-47-30. Fee for adjuster's license.
Status: in_force

The fee for an adjuster's license is eighty dollars payable in advance and fully earned when received, not refundable, transferable, nor proratable. However, when the laws of another state of the United States require South Carolina adjusters to pay a license fee greater than the fee required in this State of nonresident adjusters, the nonresident adjuster shall pay an amount equal to the amount of charges imposed by the laws of his state upon adjusters of this State.
S.C. Code Ann. § 38-21-60 — SC Code / Title 38 / Chapter 21 / Section 38-21-60
SECTION 38-21-60. Statement required by person seeking to acquire control of insurer; notice to director.
Status: in_force

(A) No person, other than the issuer, may make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire or acquire, in the open market or otherwise, any voting security of a domestic insurer if, after the consummation of the agreement, the person would directly, indirectly, by conversion, or by exercise of any right to acquire, be in control of the insurer. No person may enter into an agreement to merge with or otherwise to acquire control of a domestic insurer unless, at the time the offer, request, or invitation is made or the agreement is entered into, or before the acquisition of the securities if no offer or agreement is involved, the person has filed with the department a statement containing the information required by this section and the offer, request, invitation, agreement, or acquisition has been approved by the director or his designee in the manner prescribed in this chapter. (B) For purposes of this section, a controlling person of a domestic insurer seeking to divest its controlling interest in the domestic insurer in any manner shall file confidential notice of its proposed divestiture with the director or his designee, with a copy to the insurer, at least thirty days before the cessation of control. The director or his designee shall determine those instances in which a party seeking to divest a controlling interest in an insurer shall file for and obtain approval of the transaction by the department. The information must remain confidential until the conclusion of the transaction, unless the director or his designee determines that confidential treatment will interfere with enforcement of this section. If the statement referred to in subsection (A) otherwise is filed, the provisions of this subsection do not apply. (C) With respect to a transaction subject to this section, the acquiring person also must file a preacquisition notification with the director or his designee. This notification must include the information set forth in Section 38-21-125(C)(2). A person who fails to file this notification may be subject to penalties specified in Section 38-21-125(E)(3). (D) For purposes of this section, a domestic insurer includes any other person controlling a domestic insurer unless the other person as determined by the director or his designee is either directly or through its affiliates primarily engaged in business other than the business of insurance. As used in this section, "person" does not include any securities broker holding, in the usual and customary brokers' function, less than twenty percent of the voting securities of an insurance company or of any person which controls an insurance company. Effect of Amendment 2015 Act No. 2, SECTION 4, inserted subsection designators (A) and (D) to the former two undesignated paragraphs, added (B) and (C), and made nonsubstantive changes in (A).
S.C. Code Ann. § 38-17-50 — SC Code / Title 38 / Chapter 17 / Section 38-17-50
SECTION 38-17-50. Deposit of securities.
Status: in_force

The director or his designee shall require every reciprocal exchange to provide security deposits pursuant to Sections 38-9-80 to 38-9-140 as required for other insurers doing business in this State.
S.C. Code Ann. § 38-57-20 — SC Code / Title 38 / Chapter 57 / Section 38-57-20
SECTION 38-57-20. "Person" defined.
Status: in_force

When used in this chapter "person" means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters.
S.C. Code Ann. § 38-103-60 — SC Code / Title 38 / Chapter 103 / Section 38-103-60
SECTION 38-103-60. Unpaid waiting periods.
Status: in_force

The policy of insurance must set forth whether there is an unpaid waiting period and, if so, the terms and conditions of the unpaid waiting period, which may include, but are not limited to: (1) whether the waiting period runs over a consecutive calendar day period; (2) whether the waiting period is counted toward the annual allotment of family leave benefits or is in addition to the annual allotment of family leave benefits; (3) whether the waiting period must be met only once per benefit year or must be met for each separate claim for benefits; and (4) whether the employee may work or receive paid time off or other compensation by the employer during the waiting period.
S.C. Code Ann. § 38-10-10 — SC Code / Title 38 / Chapter 10 / Section 38-10-10
SECTION 38-10-10. Purpose.
Status: in_force

This chapter is adopted to provide a basis for the creation of protected cells by a domestic insurer or captive insurer as defined in Chapter 90 as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization. Investors in fully funded insurance securitization transactions provide funds that are available to pay the insurer's insurance obligations or to repay the investors, or both. The creation of protected cells is intended to be a means to achieve more efficiencies in conducting insurance securitizations.
S.C. Code Ann. § 38-47-20 — SC Code / Title 38 / Chapter 47 / Section 38-47-20
SECTION 38-47-20. Reciprocal agreements as to licensing nonresidents.
Status: in_force

The director or his designee may enter into reciprocal agreements with the insurance commissioners of other states in regard to licensing of nonresident adjusters if in his judgment such arrangements or agreements are in the best interest of the state and if the applicant for an adjuster's license meets the minimum statutory requirements of this State for the issuance of a license. However, the director or his designee may not enter into or continue any reciprocal agreement unless the other state is just as liberal as this State in licensing nonresident adjusters.
S.C. Code Ann. § 38-75-1000 — SC Code / Title 38 / Chapter 75 / Article 11 / Section 38-75-1000
SECTION 38-75-1000. Restrictions on amount of commission.
Status: in_force

A title insurer may not pay a commission, directly or indirectly, of greater than sixty percent on a title insurance policy.
S.C. Code Ann. § 38-45-195 — SC Code / Title 38 / Chapter 45 / Section 38-45-195
SECTION 38-45-195. Collecting taxes for all risks placed in surplus lines market.
Status: in_force

Nothing in this chapter precludes the director or his designee from collecting one hundred percent of the taxes due under this chapter for all risks placed in the surplus lines market.
S.C. Code Ann. § 38-53-84 — SC Code / Title 38 / Chapter 53 / Section 38-53-84
SECTION 38-53-84. Notification when electronic monitoring violated.
Status: in_force

(A) A person engaged in electronic monitoring of a defendant must, within forty-eight hours, notify the solicitor having jurisdiction over the defendant when he becomes aware or should have become aware that the defendant has violated any provision of the court's order for electronic monitoring. Failure of a defendant to timely pay the bondsman the full monthly electronic monitoring fee associated with the cost of the electronic monitoring device and the associated cost of the monitoring service shall, in and of itself, constitute good cause for the bondsman to file a motion to be relieved on the bond and to surrender the defendant to the custody of the appropriate detention facility pursuant to Section 38-53-50. (B) Failure of the bondsman to maintain compliance with the reporting requirement of subsection (A) shall be reported to the South Carolina Department of Insurance by the solicitor for administrative action whereby the bondsman's license may be fined, suspended, or revoked.
S.C. Code Ann. § 38-27-340 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-340
SECTION 38-27-340. Actions by and against rehabilitator.
Status: in_force

(a) Any court in this State before which any action or proceeding in which the insurer is a party or is obligated to defend a party is pending when a rehabilitation order against the insurer is entered shall stay the action or proceeding for ninety days and any additional time necessary for the rehabilitator to obtain proper representation and prepare for further proceedings. The rehabilitator shall take any action respecting the pending litigation he considers necessary in the interests of justice and for the protection of creditors, policyholders, and the public. The rehabilitator shall immediately consider all litigation pending outside this State and shall petition the courts having jurisdiction over that litigation for stays whenever necessary to protect the estate of the insurer. (b) No statute of limitations or defense of laches runs with respect to any action by or against an insurer between the filing of a petition for appointment of a rehabilitator for that insurer and the order granting or denying that petition. Any action by or against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty days after the order of rehabilitation is entered or the petition is denied. (c) Any guaranty association or foreign guaranty association covering life or health insurance or annuities has standing to appear in any court proceeding concerning the rehabilitation of a life or health insurer if the association is or may become liable to act as a result of the rehabilitation.
S.C. Code Ann. § 38-59-40 — SC Code / Title 38 / Chapter 59 / Article 1 / Section 38-59-40
SECTION 38-59-40. Liability for attorneys' fees where insurer has refused to pay claim.
Status: in_force

(1) In the event of a claim, loss, or damage which is covered by a policy of insurance or a contract of a nonprofit hospital service plan or a medical service corporation and the refusal of the insurer, plan, or corporation to pay the claim within ninety days after a demand has been made by the holder of the policy or contract and a finding on suit of the contract made by the trial judge that the refusal was without reasonable cause or in bad faith, the insurer, plan, or corporation is liable to pay the holder, in addition to any sum or any amount otherwise recoverable, all reasonable attorneys' fees for the prosecution of the case against the insurer, plan, or corporation. The amount of reasonable attorneys' fees must be determined by the trial judge and the amount added to the judgment. The amount of the attorneys' fees may not exceed one-third of the amount of the judgment. (2) If attorneys' fees are allowed and, on appeal by the defendant, the judgment is affirmed, the Supreme Court or the court of appeals shall allow to the respondent an additional sum as the court adjudges reasonable as attorneys' fees of the respondent on the appeal. (3) Nothing in this section may be construed to alter or affect the Tyger River Pine Co. v. Maryland Casualty Co., 161 SE 491, 163 SC 229, doctrine. (4) This section applies to cases filed or removed to federal court and cases appealed in the federal court system.
S.C. Code Ann. § 38-73-1230 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1230
SECTION 38-73-1230. Issuance or denial of license; duration; fee.
Status: in_force

If the director or his designee finds that the applicant is competent, trustworthy, and otherwise qualified to act as a rating organization and that its constitution, articles of agreement or association or certificate of incorporation, and its bylaws, rules, and regulations governing the conduct of its business conform to the requirements of law, he shall issue a license specifying the kinds of insurance or subdivision or class of risk or part or combination thereof for which the applicant is authorized to act as a rating organization. Every application must be granted or denied in whole or in part by the director or his designee within sixty days of the date of its filing with him. Licenses issued pursuant to this section remain in effect for an indefinite term unless sooner suspended or revoked by the director or his designee. The fee for the license is two hundred dollars owed and payable annually by March first.
S.C. Code Ann. § 38-48-20 — SC Code / Title 38 / Chapter 48 / Section 38-48-20
SECTION 38-48-20. License required for public adjusters.
Status: in_force

Every individual commonly called a public adjuster, adjusting losses for an insured, must be licensed by the director or his designee. These individuals shall apply for a license on a form prescribed by the director or his designee. The written examination for a public adjuster license shall be the same as that prescribed for insurance adjusters. The director or his designee shall satisfy himself that each applicant for a public adjuster's license is an individual of good moral character, has sufficient knowledge of the insurance business and duties as a public adjuster, has not violated the insurance laws of the State, and is a fit and proper individual for the position. No license may be issued pursuant to reciprocal arrangements or agreements as provided in Section 38-48-40 to a nonresident public adjuster who resides in a state which has enacted a statute requiring the licensing of public adjusters and which refuses to license South Carolina public adjusters; however, a license may be issued to such applicants upon a successful completion of the examination for public adjusters prescribed by the director or his designee. Only licensed public adjusters may solicit business from an insured who has sustained an insured loss. Individuals engaged in providing public adjusting services without a license shall be deemed to be engaged in unauthorized transaction of insurance business and subject to the remedies provided in Chapter 25, as well as the disgorgement of fees or restitution to the insured for any fees paid.
S.C. Code Ann. § 38-55-120 — SC Code / Title 38 / Chapter 55 / Article 1 / Section 38-55-120
SECTION 38-55-120. Procedure when insurer fails to pay final judgment.
Status: in_force

If an insurer fails to pay a final judgment rendered against it within fifteen days after the judgment becomes final, upon written application of the holder of the judgment the director or his designee shall give fifteen days' written notice to the insurer to pay the judgment and, upon the insurer's failure to pay the judgment within the time, shall revoke the license of the insurer to do business in this State and impound its bond or securities required to be deposited under Sections 38-9-80 through 38-9-140 or Section 38-15-30. In the event the director or his designee revokes the license of the insurer, he shall take any steps he considers necessary for the protection of the insurer's policyholders in this State. A judgment creditor may proceed with the collection of his judgment out of the securities in the possession of the director or his designee or the bond filed with him.
S.C. Code Ann. § 38-19-50 — SC Code / Title 38 / Chapter 19 / Article 1 / Section 38-19-50
SECTION 38-19-50. Use of proxies.
Status: in_force

(A) A member of a domestic mutual insurer may vote in person or by proxy on any matter coming before a corporate meeting of members. An appointment of proxy is effective when received by the secretary or other officer or agent authorized to tabulate votes. Unless a time of expiration is otherwise specified, an appointment is valid for eleven months. (B) No member's vote upon any proposal (1) to divest the insurer of its business and assets, or the major part of it, or (2) to change the corporate structure of the insurer as provided in Article 9 of this chapter may be registered or taken except in person or by a proxy newly executed and specific as to the matter to be voted upon. (C) No proxy may be utilized by a domestic mutual insurer subject to the provisions of this chapter unless the language and form of the proxy have been approved by the director or his designee.
S.C. Code Ann. § 38-63-50 — SC Code / Title 38 / Chapter 63 / Article 1 / Section 38-63-50
SECTION 38-63-50. Spendthrift provisions in settlement agreements are valid.
Status: in_force

When the proceeds of a life insurance policy becoming a claim by death of the insured are left with an insurance company under a trust or other agreement, the benefits accruing thereunder after the death of the insured are not transferable nor subject to computation or encumbrance nor to legal process, except in an action to recover for necessaries if the parties to the trust or other agreement so agree.
S.C. Code Ann. § 38-71-1310 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1310
SECTION 38-71-1310. Short title.
Status: in_force

This article shall be known and may be cited as the "Small Employer Health Insurance Availability Act".
S.C. Code Ann. § 38-75-386 — SC Code / Title 38 / Chapter 75 / Article 5 / Section 38-75-386
SECTION 38-75-386. Essential property insurance; liability for acts and omissions.
Status: in_force

No liability on the part of, and no cause of action of any nature may arise against, the director, the Department of Insurance or its staff, the association, any member insurer, the association's agents or employees, its board of directors, or the legal representatives of any of the above persons, for any act or omission made in good faith or for any statement made to, or for information provided to, any insurer regarding rates; premiums; classifications; cancellations, determinations, or nonrenewals of coverage; underwriting; inspections; or claims experience history made to facilitate the underwriting of essential property insurance for risks in the coastal area by private insurers or to facilitate competition for the underwriting of essential property insurance for risks in the coastal area among private insurers.
S.C. Code Ann. § 38-19-1190 — SC Code / Title 38 / Chapter 19 / Article 13 / Section 38-19-1190
SECTION 38-19-1190. Demutualization.
Status: in_force

Nothing contained in this article shall be construed to prohibit demutualization of a mutual insurance holding company or a mutual insurer pursuant to the laws of this State. All provisions of law regarding demutualization of a mutual insurer shall also apply to a mutual insurance holding company.
S.C. Code Ann. § 38-13-420 — SC Code / Title 38 / Chapter 13 / Article 5 / Section 38-13-420
SECTION 38-13-420. Exceptions to reporting requirements; material nonrenewals, cancellations, or revisions of ceded reinsurance agreements defined; information to be disclosed; report to be on nonconsolidated basis; exceptions.
Status: in_force

(A) Nonrenewals, cancellations, or revisions of ceded reinsurance agreements may not be reported pursuant to Section 38-13-400 if the nonrenewals, cancellations, or revisions are not material. For purposes of this section and Sections 38-13-400 and 38-13-410, a material nonrenewal, cancellation, or revision is one that affects, for property and casualty business, including accident and health business when written as such, more than fifty percent of an insurer's or health maintenance organization's ceded written premium, or, for life, annuity, and accident and health business, more than fifty percent of the total reserve credit taken for business ceded, on an annualized basis as indicated in the insurer's or health maintenance organization's most recently filed annual statement. However, a filing is not required if the insurer's or health maintenance organization's ceded written premium or the total reserve credit taken for business ceded represents, on an annualized basis, less than ten percent of direct plus assumed written premium or ten percent of the statutory reserve requirement before any cession, respectively. (B) Subject to the criteria outlined in subsection (A) of this section, a report must be filed without regard to which party has initiated the nonrenewal, cancellation, or revision of ceded reinsurance whenever one or more of the following conditions exist: (1) the entire cession has been canceled, nonrenewed, or revised and ceded indemnity and loss adjustment expense reserves after any nonrenewal, cancellation, or revision represent less than fifty percent of the comparable reserves that would have been ceded had the nonrenewal, cancellation, or revision not occurred; (2) an authorized or accredited reinsurer has been replaced on an existing cession by an unauthorized reinsurer; or (3) collateral requirements previously established for unauthorized reinsurers have been reduced; e.g., the requirement to collateralize incurred but not reported (IBNR) claim reserves has been waived with respect to one or more unauthorized reinsurers newly participating in an existing cession. Subject to the materiality criteria outlined in subsection (A) of this section, for purposes of items (2) and (3), a report must be filed if the result of the revision affects more than ten percent of the cession. (C)(1) The following information must be disclosed in any report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements: (a) effective date of the nonrenewal, cancellation, or revision; (b) the description of the transaction with an identification of the initiator of the transaction; (c) purpose of, or reason for, the transaction; and (d) if applicable, the identity of the replacement reinsurers. (2) An insurer and a health maintenance organization are required to report all material nonrenewals, cancellations, or revisions of ceded reinsurance agreements on a nonconsolidated basis unless the insurer or health maintenance organization is part of a consolidated group of insurers or health maintenance organizations which utilizes a pooling arrangement or one hundred percent reinsurance agreement that affects the solvency and integrity of the insurer's or health maintenance organization's reserves and the insurer or health maintenance organization ceded substantially all of its direct and assumed business to the pool. An insurer or a health maintenance organization is considered to have ceded substantially all of its direct and assumed business to a pool if the insurer or health maintenance organization has less than one million dollars total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than five percent of the insurer's or health maintenance organization's capital and surplus.
S.C. Code Ann. § 38-97-40 — SC Code / Title 38 / Chapter 97 / Section 38-97-40
SECTION 38-97-40. Brochures or other written materials to be made available to customers; insurance may be offered on periodic basis; eligibility and underwriting standards.
Status: in_force

(A) A vendor of portable electronics insurance must make certain brochures or other written materials available to its customers in a location where the vendor sells this insurance. The brochures or written materials must: (1) disclose that portable electronics insurance may provide a duplication of coverage already provided by a homeowner's policy, renter's insurance policy, or other source of insurance coverage of the customer; (2) state that the enrollment in a portable electronics insurance program is not required for the customer to purchase or lease portable electronics or services from the vendor; and (3) summarize the material terms of the insurance coverage, including: (a) the identity of the insurer; (b) the identity of the supervising entity; (c) the amount of any applicable deductible and how this deductible must be paid; (d) benefits of the coverage; (e) key terms and conditions of coverage such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or nonoriginal manufacturer parts or equipment; (f) a summary of the process for filing a claim under the policy, including a description of how to return portable electronics and the maximum fee applicable if an enrolled customer fails to comply with an equipment return requirement; and (g) a statement that an enrolled customer may cancel enrollment for coverage under a portable electronics insurance policy at any time and the person who pays the premium must receive a refund of any applicable unearned premium. (B) Portable electronics insurance may be offered on a month-to-month or other periodic basis as a group or master commercial inland marine policy issued to a vendor of portable electronics for its enrolled customers. (C) Eligibility and underwriting standards for customers electing to enroll in coverage must be established for each portable electronics insurance program.
S.C. Code Ann. § 38-21-210 — SC Code / Title 38 / Chapter 21 / Section 38-21-210
SECTION 38-21-210. Filing of registration statement on behalf of affiliated insurer.
Status: in_force

The director or his designee may allow an insurer which is authorized to do business in this State and which is part of an insurance holding company system to register on behalf of an affiliated insurer which is required to register under Section 38-21-130 and to file all information and material required to be filed under Sections 38-21-130 through 38-21-240.
S.C. Code Ann. § 38-55-20 — SC Code / Title 38 / Chapter 55 / Article 1 / Section 38-55-20
SECTION 38-55-20. Insurers shall do business in own name; combination policy.
Status: in_force

Every insurer shall conduct its business in the State in, and the policies and contracts of insurance issued by it must be headed or entitled by, its proper or corporate name; provided, however, notwithstanding any other provision of law, an insurer may elect to use a trade name in the conduct of its business if the insurer also clearly discloses its proper or corporate name on its policies, contracts of insurance, and other documents filed with the Department of Insurance. Two or more authorized insurers may, with the approval of the director or his designee, issue a combination policy which shall contain provisions substantially as follows: (1) That the insurers executing the policy are severally liable for the full amount of any loss or damage, according to the terms of the policy, or for specified percentages or amounts thereof aggregating the full amount of insurance under the policy; and (2) That service of process or of any notice or proof of loss required by the policy upon any of the insurers executing the policy constitutes service upon all the insurers.
S.C. Code Ann. § 38-70-40 — SC Code / Title 38 / Chapter 70 / Section 38-70-40
SECTION 38-70-40. Periodic review of operations of private review agents; telephone audits; complaints; fines; denial, suspension or revocation of certificate; hearings.
Status: in_force

(A) The director or his designee may conduct periodic reviews of the operations of private review agents in this State to ensure that they continue to meet the specifications outlined in this chapter and any applicable regulations which may be promulgated by the department. The director or his designee may perform periodic telephone audits of private review agents authorized to conduct business in this State, to determine if the agents are reasonably accessible. (B) Within ninety days upon receipt of a complaint from a licensed health care provider, the director or his designee may investigate the complaint, including holding hearings and taking testimony or other appropriate actions, and shall present a written response to the complainant and the private review agent named. This response must include the following: (1) a statement of the original complaint; (2) a determination of findings of the director or his designee; (3) corrective actions, if any, on the part of the private review agent which the director or his designee finds appropriate; and (4) a time frame in which any corrective actions are to be completed. (C) The director or his designee is authorized to take appropriate action against a private review agent who fails to meet the standards of this chapter or of any applicable regulations promulgated by the department, or who fails to respond in a timely fashion to corrective actions ordered by the director or his designee. The director or his designee may impose an administrative fine not to exceed one thousand dollars for each violation or may deny, suspend, or revoke the certificate of the private review agent. (D) The director or his designee may also deny, suspend, or revoke a certificate if, upon review, the director or his designee finds that the private review agent does not: (1) have a utilization review program that meets the requirements of subsection (C) of Section 38-70-20; (2) have available the services of sufficient numbers of registered nurses, medical records technicians, or similarly qualified persons supported and supervised by appropriate physicians to carry out its utilization review activities; (3) meet any applicable regulations the department promulgates under this chapter relating to the qualifications of private review agents or the performance of utilization review; (4) remain accessible to patients and providers. (E) Before taking the actions authorized by this section to deny, suspend, or revoke the certificate of a private review agent, the director or his designee shall provide the private review agent with reasonable time to supply additional information demonstrating compliance with the requirements of this chapter and the opportunity to request a hearing. If a private review agent requests a hearing, the director or his designee shall send a hearing notice to the involved parties by certified mail, return receipt requested, at least thirty days before the hearing. The director or his designee shall hold the hearing in accordance with the provisions of Chapter 3 of this title, and the State Administrative Procedures Act. Any action or decision of the director or his designee pursuant to the administrative hearing may be appealed to the Administrative Law Court as provided by law by the private review agent.
S.C. Code Ann. § 38-73-995 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-995
SECTION 38-73-995. Disapproval of insurer's workers' compensation rates using most recent multiplier for expenses.
Status: in_force

An insurer's workers' compensation rates developed using its most recent multiplier for expenses, assessments, profit, and contingencies and any modifications to loss costs may be disapproved at any time after they become effective if the director or his or her designee determines that they do not meet the requirements of this chapter.
S.C. Code Ann. § 38-75-210 — SC Code / Title 38 / Chapter 75 / Article 3 / Section 38-75-210
SECTION 38-75-210. Policies may not exceed three years; refund of unearned premiums on cancellation of policies.
Status: in_force

Notwithstanding any other provision of law: (1) No policy of hazard insurance issued or delivered to cover a mobile home risk situate in South Carolina may be written to provide for a policy period in excess of three years. (2) Every such policy, and the manual of rules and rates of every insurer issuing such policies in this State, shall provide that all premiums held by the insurer in respect to that part of the policy term subsequent to the anniversary date of the then current policy year are considered unearned and must be refunded in full if the policy is cancelled, without respect to whether cancellation is effected by the insured or insurer. In the event of cancellation during the first year of the policy term, refund of premium for that portion of the policy term must be on a pro rata basis if cancellation is effected by the insurer or on the short rate basis if cancellation is effected by the insured. In the event of cancellation during the second year of the policy term, refund of that portion of the unearned premium attributable to the second year must be on a pro rata basis if cancellation is effected by the insurer or on the short rate basis if cancellation is effected by the insured, subject, however, to the provision that the portion of the unearned premium attributable to the third year is considered entirely unearned and must be returned in full regardless of the party responsible for cancellation. In the event of cancellation during the third year of the policy term, refund of that portion of the unearned premium attributable to the third year must be on a pro rata basis if cancellation is effected by the insured. (3) Upon the cancellation of any such policy, without respect to the party effecting the cancellation, any unearned premium must be returned to the insured or to the mortgagee. If returned to the mortgagee the unearned premium must be applied to any payment then due or to the next payment or payments to become due. No agreement may be made requiring or permitting the mortgagee to apply the returned premiums to the final payment or payments on the indebtedness.
S.C. Code Ann. § 38-81-350 — SC Code / Title 38 / Chapter 81 / Article 3 / Section 38-81-350
SECTION 38-81-350. Members bound by approved plan.
Status: in_force

Every member of the association is bound by the approved plan of operation of the association and the rules of the board of directors of the association.
S.C. Code Ann. § 38-89-60 — SC Code / Title 38 / Chapter 89 / Section 38-89-60
SECTION 38-89-60. Duty of director to gather statistical data.
Status: in_force

The director or his designee shall obtain complete statistical data in respect to day care liability losses and reparation costs as well as all other costs or expenses which underlie or are related to day care liability insurance. The Department of Insurance shall promulgate any statistical plan he considers necessary for the purpose of gathering data referable to loss and loss adjustment expense experience and other expense experience. When the statistical plan is promulgated all members of the association shall adopt and use it. The director or his designee also shall obtain statistical data in respect to the costs of compensating victims of day care liability. The director or his designee may require loss, claim, or expense data from any person obtaining insurance through the association. This information or data is confidential.
S.C. Code Ann. § 38-71-1940 — SC Code / Title 38 / Chapter 71 / Article 19 / Section 38-71-1940
SECTION 38-71-1940. Notice of right to request a review; notice of adverse determination.
Status: in_force

(A) A health carrier shall notify the covered person in writing of the right to request an external review and include the appropriate statements and information set forth in subsection (B) at the time the health carrier sends written notice of either an adverse determination or a final adverse determination. (B)(1) The health carrier shall include in the notice required under subsection (A) a clear and concise description of the right of the covered person to request a standard external review pursuant to Section 38-71-1970 or an expedited external review pursuant to Section 38-71-1980 upon receipt of an adverse determination or a final adverse determination and the circumstances under which the covered person is not required to exhaust the health carrier's internal appeal process or is considered to have exhausted the health carrier's internal appeal process pursuant to Section 38-71-1960. (2) In addition to the information to be provided pursuant to item (1), the health carrier shall include a brief description of both the standard and expedited external review procedures. (3) As part of any forms provided under item (2), the health carrier shall include an authorization form, or other document promulgated or approved by the director or his designee, by which the covered person, for purposes of conducting an external review under this article, authorizes the health carrier to disclose protected health information, including medical records, concerning the covered person that are pertinent to the external review. (C) A notice, statement, or form required by this section must achieve a score of no lower than 70 on the Flesch Reading East Test and must be printed in no smaller than 12 point type. No part of the notice, statement, or form may be printed in all capitals. A notice, statement, or form required by this section must include a statement of the right of the covered person to contact the director or his designee for assistance. The statement must include the telephone number and address of the director or his designee. (D) A notice, statement, or form required by this section must be approved by the Department of Insurance. The director or his designee shall promulgate standard language, in a specified font size and type for any notice, statement, or form required by this section. Use of the standard language in the specified font size and type promulgated by the department pursuant to this section shall constitute compliance with the notice requirements of this section.
S.C. Code Ann. § 38-45-130 — SC Code / Title 38 / Chapter 45 / Section 38-45-130
SECTION 38-45-130. Adjustment of losses; inspections and endorsements.
Status: in_force

All losses occurring under policies placed through an insurance broker may be adjusted by a licensed producer or adjuster in this State. All inspections of property and endorsements on policies may be made by a licensed broker or any other licensed insurance producer in this State authorized to do so.
S.C. Code Ann. § 38-53-55 — SC Code / Title 38 / Chapter 53 / Section 38-53-55
SECTION 38-53-55. Contact with victim violations.
Status: in_force

When a person engaged in electronic monitoring of a defendant charged with a violent offense as defined by Section 16-1-60 becomes aware that the defendant has had contact with the alleged victim of the violent offense or with the immediate family of the alleged victim of the violent offense, he must immediately or within twenty-four hours, notify law enforcement, the solicitor, and the court having jurisdiction over the defendant of the contact.
S.C. Code Ann. § 38-27-480 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-480
SECTION 38-27-480. Claims of holders of voidable rights.
Status: in_force

(a) No claim of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this chapter is allowed unless he surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim may not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding. (b) A claim allowable under subsection (a) by reason of the avoidance, whether voluntary or involuntary, or a preference, a lien, conveyance, transfer, assignment, or encumbrance, may be filed as an excused late filing under Section 38-27-540 if filed within thirty days from the date of the avoidance or within the further time allowed by the court under subsection (a).
S.C. Code Ann. § 38-12-460 — SC Code / Title 38 / Chapter 12 / Article 3 / Section 38-12-460
SECTION 38-12-460. Equity interests in domestic business entities; limitations.
Status: in_force

(A) Subject to the limitations of Section 38-12-430, an insurer may acquire directly, or through an investment affiliate, equity interests in business entities organized pursuant to the laws of any domestic jurisdiction. (B) An insurer may not acquire directly, or through an investment affiliate, an investment pursuant to this section if as a result of and after giving effect to the investment the aggregate amount of investments then held by the insurer pursuant to this section exceeds the greater of twenty-five percent of its admitted assets, or one hundred percent of its surplus as regards policyholders. (C) An insurer may not acquire pursuant to this section investments that the insurer may acquire pursuant to Section 38-12-480 or pursuant to Chapter 21 of this title. (D) An insurer may not short sell an equity interest unless the insurer covers the short sale by owning the equity interest or an unrestricted right to the equity interest exercisable within six months of the short sale.
S.C. Code Ann. § 38-71-110 — SC Code / Title 38 / Chapter 71 / Article 1 / Section 38-71-110
SECTION 38-71-110. Notice of failure of employer to remit deducted premium required before forfeiture.
Status: in_force

No insurer doing business in this State and issuing health or accident insurance policies, other than contracts of group insurance of disability, accidental death, or disability and accidental death benefits in connection with policies of life insurance, the premium for which is to be collected in weekly, monthly, or other periodic installments by authority of a payroll deduction order executed by the insured and delivered to the insurer or the insured's employer authorizing the deduction of premium installments from the insured's salary or wages, may, during the period for which the policy is issued and while the insured remains employed by the authorized employer, declare forfeited or lapsed the policy until and unless a written or printed notice of the failure of the employer to remit the premium or installment thereof, stating the amount or portion thereof due on the policy and to whom it must be paid, has been duly addressed and mailed to the person who is insured under the policy at least fifteen days before the policy is terminated or lapsed.
S.C. Code Ann. § 38-71-620 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-620
SECTION 38-71-620. Advance notice required for increase in premium.
Status: in_force

If an accident and health insurance policy contains provisions which reserve the right to the insurer to increase the premium, the policy shall also provide that at least thirty-one days' prior written notice of a rate increase must be given to the insured before the rate increase becomes effective.
S.C. Code Ann. § 38-47-70 — SC Code / Title 38 / Chapter 47 / Section 38-47-70
SECTION 38-47-70. Indication of violation of title by adjuster warrants imposition of listed penalties; notice.
Status: in_force

When the director or his designee determines after investigation that there has been a violation of this title by an adjuster, upon ten days' notice, he may impose the penalties provided in Section 38-2-10.
S.C. Code Ann. § 38-10-60 — SC Code / Title 38 / Chapter 10 / Section 38-10-60
SECTION 38-10-60. Conservation, rehabilitation, or liquidation; amount recoverable by receiver.
Status: in_force

(A) Notwithstanding any other provision of law or regulation, upon an order of conservation, rehabilitation, or liquidation of a protected cell company, the receiver shall deal with the protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, in accordance with the requirements set forth in this chapter. (B) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver may not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding any provisions to the contrary in the contracts or other documentation governing the protected cell company insurance securitization.
S.C. Code Ann. § 38-3-230 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-230
SECTION 38-3-230. Director's certificate as evidence of authority to do business.
Status: in_force

In any case or controversy where it is necessary to determine whether any insurance or other company, or agent thereof, is or has been licensed by the director or his designee to do business in this State, the certificate of the director or his designee under the seal of the department is admissible in evidence as proof of this authority.
S.C. Code Ann. § 38-90-90 — SC Code / Title 38 / Chapter 90 / Article 1 / Section 38-90-90
SECTION 38-90-90. Suspension or revocation of license.
Status: in_force

(A) The license of a captive insurance company to conduct an insurance business in this State may be suspended or revoked by the director for: (1) insolvency or impairment of capital or surplus; (2) failure to meet the requirements of Section 38-90-40; (3) refusal or failure to submit an annual report, as required by Section 38-90-70, or any other report or statement required by law or by lawful order of the director; (4) failure to comply with its own charter, bylaws, or other organizational document; (5) failure to submit to examination or any legal obligation relative to an examination, as required by Section 38-90-80; (6) refusal or failure to pay the cost of examination as required by Section 38-90-80; (7) use of methods that, although not otherwise specifically prohibited by law, nevertheless render its operation detrimental or its condition unsound with respect to the public or to its policyholders; or (8) failure otherwise to comply with laws of this State. (B) If the director finds, upon examination, hearing, or other evidence, that a captive insurance company has committed any of the acts specified in subsection (A) of this section, the director may suspend or revoke such license if the director considers it in the best interest of the public and the policy holders of the captive insurance company, notwithstanding any other provision of this title. (C) In lieu of suspending or revoking the license of a captive insurance company, the director may impose fines as provided for in Section 38-2-10. Effect of Amendment 2014 Act No. 282, SECTION 13, in subsection (C), substituted "In lieu of" for "Instead of". 2018 Act No. 251, SECTION 1, in (A)(2), deleted "or 38-90-50" following "Section 38-90-40".
S.C. Code Ann. § 38-99-80 — SC Code / Title 38 / Chapter 99 / Section 38-99-80
SECTION 38-99-80. Penalties.
Status: in_force

A licensee who violates a provision of this chapter is subject to penalties as provided in Section 38-2-10. Editor's Note 2018 Act No. 171, SECTIONS 1 and 2, provide as follows: "SECTION 1. The purpose and intent of this act is to establish standards for data security and standards for the investigation of and notification to the director of a cybersecurity event applicable to licensees. This act may not be construed to create or imply a private cause of action for a violation of its provisions nor may it be construed to curtail a private cause of action which would otherwise exist in the absence of this act. "SECTION 2. This act is known and may be cited as the 'South Carolina Insurance Data Security Act'."
S.C. Code Ann. § 38-71-650 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-650
SECTION 38-71-650. Right to transfer to policy of equal or lesser benefits with same insurer.
Status: in_force

Any person purchasing an individual accident, health, or accident and health insurance policy after July 1, 1991, shall have the right to transfer to any individual policy of equal or lesser benefits offered for sale by the insurer at the time the transfer is sought. Any special provision excluding coverage for a specified condition may remain after transfer, and any waiting period or preexisting condition period specified in the policy to which the transfer is made may be required to be served after the transfer.
S.C. Code Ann. § 38-77-250 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-250
SECTION 38-77-250. Release of coverage information upon written request of claimant's attorney; confidentiality.
Status: in_force

(A) Every insurer providing automobile insurance coverage in this State and which is or may be liable to pay all or a part of any claim shall provide, within thirty days of receiving a written request from the claimant's attorney, a statement, under oath, of a corporate officer or the insurer's claims manager stating with regard to each known policy of nonfleet private passenger insurance issued by it, the name of the insurer, the name of each insured, and the limits of coverage. The insurer may provide a copy of the declaration page of each such policy in lieu of providing such information. The request shall set forth under oath the specific nature of the claim asserted and shall be mailed to the insurer by certified mail or statutory overnight delivery. The request also must state that the attorney is authorized to make such a request and must be accompanied by a copy of the incident report from which the claim is derived. (B) If the request provided in subsection (A) contains information insufficient to allow compliance, the insurer upon whom the request was made may so state in writing, stating specifically what additional information is needed and such compliance shall constitute compliance with this section. (C) The information provided to a claimant or his attorney as required by subsection (A) of this section shall not create a waiver of any defenses to coverage available to the insurer and shall not be admissible in evidence. (D) The information provided to a claimant or his attorney as required by subsection (A) shall be amended upon the discovery of facts inconsistent with or in addition to the information provided. (E) The provisions of this section do not require disclosure of limits for fleet policy limits, umbrella coverages, or excess coverages. (F) The information received pursuant to this section is confidential and must not be disclosed to any outside party. Upon final disposition of the case, the claimant's attorney must destroy all information received pursuant to this section. The court must impose sanctions for a violation of this subsection. Editor's Note 2011 Act No. 52, SECTION 7, provides as follows: "SECTION 7. This act takes effect January 1, 2012, and applies to all actions that accrue on or after the effective date except the provisions of SECTION 3 do not apply to any matter pending on the effective date of this act."
S.C. Code Ann. § 38-71-241 — SC Code / Title 38 / Chapter 71 / Article 1 / Section 38-71-241
SECTION 38-71-241. Percentage copayment and deductible must be applied to negotiated rate or lesser charge of that provider.
Status: in_force

An insurer that negotiates rates with providers for covered health care services under an individual or group accident and health insurance policy must provide that percentage copayments and deductibles paid by the insured are applied to the negotiated rates or lesser charge of that provider. Nothing in this section precludes an insurer from issuing a policy which contains fixed dollar copayments and deductibles.
S.C. Code Ann. § 38-9-210 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-210
SECTION 38-9-210. Reduction from liability for reinsurance; security.
Status: in_force

An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of Section 38-9-200 must be allowed in an amount not exceeding the liabilities carried by the ceding insurer provided that the director, or his designee, may adopt by regulation pursuant to Section 38-9-200(N) specific additional requirements relating to or setting forth the valuation of assets or reserve credits, the amount and forms of security supporting reinsurance arrangements, or the circumstances pursuant to which a credit may be reduced or eliminated. The reduction must be in the amount of funds held by or on behalf of the ceding insurer, including funds held in trust for the ceding insurer, under a reinsurance contract with the assuming insurer as security for the payment of obligations, if the security is held in the United States subject to withdrawal solely by and under the exclusive control of the ceding insurer or, for a trust, held in a qualified United States financial institution, defined in Section 38-9-220(B). This security may be in the form of: (1) cash; (2) securities listed by the National Association of Insurance Commissioners Investment Analysis Office, including those deemed exempt from filing as defined by the Purposes and Procedures Manual of the Securities Valuation Office and qualifying as admitted assets as defined in Section 38-13-80; (3) clean, irrevocable, unconditional letters of credit issued or confirmed by a qualified United States financial institution defined in Section 38-9-220(A) no later than December thirty-first of the year for which filing is being made and in the possession of, or in trust for, the ceding company on or before the filing date of its annual statement. Letters of credit meeting applicable standards of issuer acceptability as of the dates of their issuance or confirmation, notwithstanding the issuing or confirming institution's subsequent failure to meet applicable standards of issuer acceptability, continue to be acceptable as security until their expiration, extension, renewal, modification, or amendment, whichever first occurs; or (4) other form of security acceptable to the director, or his designee. Effect of Amendment 2018 Act No. 172, SECTION 2, amended the section, authorizing the director to adopt additional requirements for an asset or reduction from liability for reinsurance ceded by a domestic insurer and expanding the acceptable form of security for a liability reduction. 2020 Act No. 165, SECTION 2, in the first undesignated paragraph, substituted "Section 38-9-200(N)" for "Section 38-9-200(M)". 2022 Act No. 195, SECTION 4, in (2), substituted "National Association of Insurance Commissioners Investment Analysis Office" for "Securities Valuation Office of the National Association of Insurance Commissioners", and made nonsubstantive changes.
S.C. Code Ann. § 38-3-180 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-180
SECTION 38-3-180. Summoning witnesses; contempt; perjury.
Status: in_force

The director or any assistants or agents appointed to conduct examinations may summon and compel the attendance of witnesses to testify in relation to any matter which is, by the provisions of this title or by any other insurance laws of this State, a subject of inquiry and investigation. The director or his designee has the power of a circuit judge to punish for contempt any witness failing to answer any summons or failing or refusing to testify when so required. The director or any assistants or agents appointed to conduct examinations may also administer oaths and affirmations to persons appearing as witnesses before them, and false testimony in any matter or proceeding is considered perjury and must be punished in accordance with the laws of this State.
S.C. Code Ann. § 38-73-1020 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1020
SECTION 38-73-1020. Disapproval after applicable review period.
Status: in_force

If at any time after the applicable review period provided for in Sections 38-73-990 to 38-73-1010 the director or his designee finds that a filing does not meet the requirements of this chapter, he shall, after a hearing held upon not less than thirty days' written notice to every insurer and rating organization which made the filing, specifying the matters to be considered at the hearing, issue an order specifying in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is considered no longer effective. Copies of the order must be sent to every insurer and rating organization which made the filing. The order does not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
S.C. Code Ann. § 38-9-150 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-150
SECTION 38-9-150. Return of deposited securities.
Status: in_force

Upon request of a domestic insurer the director or his designee may return to the insurer the whole or any portion of the securities of the insurer held by him on deposit when he is satisfied that the securities asked to be returned are not subject to any liability and are not required to be held any longer by any provision of law or purpose of the original deposit. These deposits made by a foreign insurer must be returned by the director or his designee upon the filing with the director or his designee by the trustee or other authorized representative of the insurer a written request and sworn affidavit stating (a) that the insurer has no contracts of insurance in force and no unsatisfied claims outstanding within this State or (b) that reinsurance of all outstanding contracts and acceptance of all unsatisfied claims within this State have been provided by an insurer or insurers authorized to transact the same kinds of business in this State, filing with the affidavit a certified copy of the reinsurance agreement. Release must be made upon the written order of the director or his designee when he is satisfied that the above requirements have been met. The director or his designee is considered the agent of the foreign insurer for acceptance of service of any legal process in any action or proceeding against the insurer for any claim that might arise before or after the return of its deposits. A person making a false affidavit as required in this section is guilty of a felony and, upon conviction, must be imprisoned not more than five years.
S.C. Code Ann. § 38-59-50 — SC Code / Title 38 / Chapter 59 / Article 1 / Section 38-59-50
SECTION 38-59-50. Payment or settlement of benefits in merchandise or services prohibited.
Status: in_force

It is unlawful for an insurer to make payment or settlement of benefits arising under life, endowment, accident, health, or hospitalization policies written by the insurer in merchandise, services rendered or agreed to be rendered, or to issue a policy which provides for settlement in merchandise or services rendered or to be rendered. An insurer violating this section pays a penalty of ten times the amount of the policy, certificate, or other evidence of insurance to be collected in a suit by the policyholder or his legal representatives or beneficiary. An officer, agent, or servant of an insurer who violates this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.
S.C. Code Ann. § 38-19-470 — SC Code / Title 38 / Chapter 19 / Article 5 / Section 38-19-470
SECTION 38-19-470. Nonassessable policies.
Status: in_force

A domestic mutual insurer, after it has established a surplus not less than the minimum capital and surplus required of a stock insurer to transact like kinds of insurance and for so long as it maintains this surplus, may extinguish the contingent liability of its members to assessment and omit provisions imposing contingent liability in all policies currently issued. Any deposit made with the director or his designee as a prerequisite to the insurer's certificate of authority may be included as part of the surplus referred to in this section. When the surplus has been established and the director or his designee has so ascertained, he shall issue to the insurer, at its request, his certificate authorizing the extinguishment of the contingent liability of its members and the issuance of policies free from contingent liability.
S.C. Code Ann. § 38-71-325 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-325
SECTION 38-71-325. Requirements for approval of new individual major medical expense coverage policies.
Status: in_force

On January 1, 1992, in addition to any other requirements of law, no new individual major medical expense coverage policy, as defined in regulations promulgated by the department, may be approved unless: (1) Premium rates, after appropriate allowance for the actuarial value of the difference in benefits, for any such policy form first approved for use by the insurer in South Carolina within the two-year period immediately prior to the effective date of this section and any such policy form first approved for use after the effective date of this section do not exceed the premium rates for any other such policy form first approved for use during this period by more than thirty percent. (2) The actuarial value of the difference in benefits set out in such policy forms of the insurer, as specified in an opinion by a qualified actuary or other qualified person acceptable to the director or his designee,is reported not less often than once a year to the director or his designee and used in demonstrating compliance with item (1). (3) The anticipated (target) loss ratio for the combined experience for all the policy forms specified in item (1) must be equivalent to or greater than the most recent loss ratios detailed within the National Association of Insurance Commissioner's 'Guidelines for Filing of Rates for Individual Health Insurance Forms' or successor publications. The anticipated (target) loss ratio for the combined experience is defined as the average anticipated (target) loss ratio for all these policy forms included in the combined experience weighted by premium volume. With respect to the policy form, the insurer shall have the right to file a loss ratio guarantee in accordance with the procedures specified in Section 38-71-310(E) or to request approval of any rate change before the use thereof, but the anticipated loss ratios of each policy form whether or not a loss ratio guarantee has been filed must be combined as provided in the preceding item (3). The initial policy form proposed to be used by a domestic insurer after its organization under the laws of this State and the initial policy form proposed to be used by a foreign insurer after authorization by the director or his designee to do business in this State may be disapproved by the director or his designee if he determines that the rates proposed to be used with the policy form are set at a level substantially less than rates charged by other insurers in this State offering comparable coverage. Nothing contained in this section may be construed to prevent the use of age, sex, area, industry, occupational, and avocational factors or to prevent the use of different rates for smokers and nonsmokers or for any other habit or habits of an insured person which have a statistically proven effect on the health of the person and are approved by the director or his designee. Also, nothing contained in this section shall preclude the establishment of a substandard classification based upon the health condition of the insured, but the initial classification may not be changed adversely to the applicant after initial issue. The director or his designee has the right, upon application by any insurer, to grant relief, for good cause shown, from any requirement of this section.
S.C. Code Ann. § 38-72-20 — SC Code / Title 38 / Chapter 72 / Section 38-72-20
SECTION 38-72-20. Chapter not to supersede other insurance laws; exceptions; applications.
Status: in_force

This chapter is not intended to supersede the obligations of entities subject to this chapter to comply with the substance of other applicable insurance laws insofar as they do not conflict with this chapter, except that laws and regulations designed and intended to apply to medicare supplement insurance policies must not be applied to long term care insurance.
S.C. Code Ann. § 38-13-750 — SC Code / Title 38 / Chapter 13 / Article 7 / Section 38-13-750
SECTION 38-13-750. Conflict of interest prohibited.
Status: in_force

The director may not assign an examiner that has a conflict of interest.
S.C. Code Ann. § 38-77-740 — SC Code / Title 38 / Chapter 77 / Article 7 / Section 38-77-740
SECTION 38-77-740. Hearing; notice to parties; damages to be awarded; securing attendance of witnesses.
Status: in_force

(a) The court, or the clerk acting for the court, shall assign the arbitrators to hear the matter at the courthouse, or other designated place in the county where the claim is filed, within sixty days after the date of filing, or as soon thereafter as is feasible. The clerk of court shall, on a form provided by him, advise the parties or their attorneys of record, if any, by mail as to the place, date, and time of hearing and shall advise the parties to bring all records which may pertain to the claim, including, but not limited to, the following: (1) Two estimates of damage to the motor vehicle or its contents signed by the estimator. (2) Signed receipts for car repairs. (3) Bills or receipts for other property damages claimed. The forms shall also contain notice to the parties that, if they cannot attend because of illness or otherwise, the clerk of court must be notified as soon as possible with the request that another date be set for the hearing. (b) Property damages must be awarded as provided by law, including, but not limited to, actual damages, loss of use, depreciation, and any other property damages which are the direct and proximate result of the accident. (c) The parties may secure the attendance of witnesses by their voluntary appearance or may secure their attendance by subpoenas prepared and issued in accordance with the laws of this State.
S.C. Code Ann. § 38-12-90 — SC Code / Title 38 / Chapter 12 / Article 1 / Section 38-12-90
SECTION 38-12-90. Regulations.
Status: in_force

The director, in accordance with Section 38-3-110, may promulgate regulations implementing the provisions of this chapter.
S.C. Code Ann. § 38-89-50 — SC Code / Title 38 / Chapter 89 / Section 38-89-50
SECTION 38-89-50. Application for coverage; issuance of policy.
Status: in_force

Upon the activation of the plan of operation, a day care owner or operator licensed in this State is entitled to apply to the association for coverage. The application may be made on behalf of the applicant by a licensed agent or broker authorized in writing by the applicant. If the association determines that the applicant meets the underwriting standards of the association as set forth in the approved plan of operation and there is no unpaid, uncontested premium due from the applicant for any prior insurance of the same kind, the association, upon receipt of the premium, or a portion of it as prescribed by the plan of operation, shall cause to be issued a policy of day care liability insurance for one year. The rates, rating plans, rating rules, rating classifications, territories, and policy forms applicable to insurance written by the association and the statistical and experience data relating thereto are subject to this chapter and to those provisions of Chapter 73, Title 38 of the 1976 Code which are not inconsistent with this subdivision.
S.C. Code Ann. § 38-13-410 — SC Code / Title 38 / Chapter 13 / Article 5 / Section 38-13-410
SECTION 38-13-410. Exceptions to reporting requirements; material acquisitions or dispositions defined; information to be disclosed; report to be on nonconsolidated basis; exceptions.
Status: in_force

(A) Acquisitions or dispositions of assets may not be reported pursuant to Section 38-13-400 if the acquisitions or dispositions are not material. For purposes of this section and Sections 38-13-400 and 38-13-420, a material acquisition or the aggregate of any series of related acquisitions during any thirty-day period, or disposition or the aggregate of any series of related dispositions during any thirty-day period is one that is nonrecurring and not in the ordinary course of business and involves more than five percent of the total admitted assets as reported in the most recent annual statement of the insurer or health maintenance organization as filed with the director or his designee. (B)(1) Asset acquisitions subject to this section and Sections 38-13-400 and 38-13-420 include each purchase, lease, exchange, merger, consolidation, succession, or other acquisition other than the construction or development of real property by or for the reporting insurer or health maintenance organization or the acquisition of materials for that purpose. (2) Asset dispositions subject to this section and Sections 38-13-400 and 38-13-420 include each sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment (whether for the benefit of creditors or otherwise), abandonment, destruction, or other disposition. (C)(1) The following information must be disclosed in any report of a material acquisition or disposition of assets: (a) date of the transaction; (b) manner of acquisition or disposition; (c) description of the assets involved; (d) nature and amount of the consideration given or received; (e) purpose of, or reason for, the transaction; (f) manner by which the amount of consideration was determined; (g) gain or loss recognized or realized as a result of the transaction; and (h) names of the persons from whom the assets were acquired or to whom they were disposed. (2) An insurer and a health maintenance organization shall report material acquisitions and dispositions on a nonconsolidated basis unless the insurer or health maintenance organization is part of a consolidated group of insurers or health maintenance organizations which utilize a pooling arrangement or one hundred percent reinsurance agreement that affects the solvency and integrity of the insurer's or health maintenance organization's reserves and the insurer or health maintenance organization ceded substantially all of its direct and assumed business to the pool. An insurer or a health maintenance organization is considered to have ceded substantially all of its direct and assumed business to a pool if the insurer or a health maintenance organization has less than one million dollars total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than five percent of the insurer's or health maintenance organization's capital and surplus.
S.C. Code Ann. § 38-25-130 — SC Code / Title 38 / Chapter 25 / Article 3 / Section 38-25-130
SECTION 38-25-130. Aiding unauthorized insurer prohibited.
Status: in_force

No person may in this State aid an unauthorized insurer in effecting insurance or in transacting insurance business in this State, either by fixing a rate, or by adjusting or investigating losses, by inspecting or examining risks, by acting as attorney in fact or as attorney for service of process or otherwise, except as provided in Sections 38-25-510 and 38-25-520.
S.C. Code Ann. § 38-90-150 — SC Code / Title 38 / Chapter 90 / Article 1 / Section 38-90-150
SECTION 38-90-150. Rules, regulations, and orders.
Status: in_force

The director may promulgate and, from time to time, amend rules and regulations and issue orders or written approvals relating to captive insurance companies as are necessary to enable the director to carry out the provisions of this chapter. Effect of Amendment 2018 Act No. 251, SECTION 1, inserted "or written approvals" following "and issue orders".
S.C. Code Ann. § 38-93-70 — SC Code / Title 38 / Chapter 93 / Section 38-93-70
SECTION 38-93-70. Health insurance issuer may not request, require, or purchase genetic information for underwriting purposes; exception.
Status: in_force

(A)(1) A health insurance issuer may not request, require, or purchase genetic information for underwriting purposes. (2) An issuer may not request, require, or purchase genetic information with respect to an individual before the individual's enrollment under the policy or contract of health insurance coverage. (B) If an issuer obtains genetic information incidental to the requesting, requiring, or purchasing of other information concerning an individual, the request, requirement, or purchase may not be considered a violation of subsection (A)(2) if the request, requirement, or purchase is not a violation of subsection (A)(1).
S.C. Code Ann. § 38-89-110 — SC Code / Title 38 / Chapter 89 / Section 38-89-110
SECTION 38-89-110. Deficit to be recouped.
Status: in_force

A deficit sustained by the association in a year must be recouped, pursuant to the plan of operation and the rating plan then in effect, by one or both of the following procedures: (1) an assessment upon the policyholders, which may not exceed one additional annual premium at the then current rate; (2) a rate increase applicable prospectively.
S.C. Code Ann. § 38-9-100 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-100
SECTION 38-9-100. Deposit of securities not necessary when made with other states.
Status: in_force

If a qualified insurer deposits with an officer or official body of another state for the protection of all its policyholders, or all its policyholders and creditors, acceptable securities not in default as to principal or interest and of a current market value of not less than one million dollars, and delivers to the director or his designee a certificate to that effect, authenticated by the appropriate state official holding the deposit, the insurer may be relieved of making the deposit required by Section 38-9-80. For the purpose of this section a 'qualified insurer' is a licensed stock insurer possessed of at least ten million dollars of capital and surplus or a licensed mutual, fraternal, or reciprocal insurer possessed of at least ten million dollars of surplus, according to its most recent annual statement filed with the director or his designee and, in the discretion of the director or his designee, may include eligible surplus lines insurers which meet these capital and surplus requirements. For the purpose of this section, "acceptable securities" means bonds of the United States or of a state of the United States, or of a municipality or county, upon which is pledged the full faith and credit of the appropriate political division, or bonds or notes secured by mortgages or deeds of trust on otherwise unencumbered real estate of a market value of not less than double the amount loaned, or other securities approved by the director or his designee.
S.C. Code Ann. § 38-71-2250 — SC Code / Title 38 / Chapter 71 / Article 21 / Section 38-71-2250
SECTION 38-71-2250. Enforcement of article; penalties.
Status: in_force

(A) The director shall enforce this article. (B)(1) As often as the director deems appropriate, but not less frequently than once every five years, the director may examine or audit the books and records of a pharmacy benefits manager providing claims processing services or other prescription drug or device services for a health benefit plan that are relevant to determining if the pharmacy benefits manager is in compliance with this act. The pharmacy benefits manager shall pay the charges incurred in the examination, including the expenses of the director or his designee and the expenses and compensation of his examiners and assistants. The director or his designee promptly shall institute a civil action to recover the expenses of examination against a pharmacy benefits manager which refuses or fails to pay. (2) The information or data acquired during an examination pursuant to this section is considered proprietary and confidential and is not subject to the South Carolina Freedom of Information Act. (C) Violations of this article are subject to the penalties provided in Sections 38-2-10 through 38-2-30. (D) The director may promulgate regulations regarding pharmacy benefits managers that are not inconsistent with this article. Editor's Note 2023 Act No. 30, SECTION 7, provides as follows: "SECTION 7. This act takes effect January 1, 2024, but the recurring examinations by the Department of Insurance provided for in Sections 38-71-2250(B)(1) and 38-71-2340(B)(1) must not begin before January 1, 2025." Effect of Amendment 2023 Act No. 30, SECTION 2, in (B)(1), in the first sentence, substituted "As often as the director deems appropriate, but not less frequently than once every five years, the director" for "The director".
S.C. Code Ann. § 38-9-365 — SC Code / Title 38 / Chapter 9 / Article 3 / Section 38-9-365
SECTION 38-9-365. Discretion of director to retain actuaries, investment experts, and other consultants; fees, costs, and expense.
Status: in_force

The director may retain actuaries, investment experts, attorneys, and other consultants whom he considers necessary to enforce the provisions of this article. The fees, costs, and expenses of those actuaries, experts, attorneys, and other consultants must be borne by the affected licensee or other related or affiliated parties as required by the director. Effect of Amendment 2014 Act No. 164, SECTION 7, substituted "licensee" for "insurer".
S.C. Code Ann. § 38-44-70 — SC Code / Title 38 / Chapter 44 / Section 38-44-70
SECTION 38-44-70. Penalties for violations of chapter; judicial review; imposition of other penalties not affected; rights of policyholders, claimants, and auditors not affected.
Status: in_force

(A) If the director or his designee finds after a hearing conducted in accordance with Insurance Department Regulation 69-31 that a person has violated this chapter, the director or his designee may order: (1) for each separate violation, a penalty as provided in Section 38-2-10; (2) revocation or suspension of the agent's license of the MGA; (3) the MGA to reimburse the insurer, the rehabilitator, or liquidator of the insurer for losses incurred by the insurer caused by a violation of this chapter committed by the MGA. (B) The decision, determination, or order of the director or his designee pursuant to subsection (A) is subject to judicial review pursuant to Section 38-3-210, and the Administrative Procedures Act before the Administrative Law Court. (C) Nothing contained in this section affects the right of the director or his designee to impose other penalties in Title 38. (D) Nothing contained in this chapter limits or restricts the rights of policyholders, claimants, and auditors. SECTION 38-44-80. Authority to promulgate regulations The department may promulgate reasonable regulations for the implementation and administration of this chapter.
S.C. Code Ann. § 38-41-80 — SC Code / Title 38 / Chapter 41 / Section 38-41-80
SECTION 38-41-80. Records; inspection and examination.
Status: in_force

A multiple employer self-insured health plan shall make and keep a full and correct record of its business and affairs and the director or his representative shall inspect these records at least every three years. The information from these records must be furnished to the director or his representatives on demand and the original books or records must be open to examination by the director or his representatives when demanded. Every multiple employer self-insured health plan must be subject to an examination of its financial affairs. This examination must be conducted in accordance with the requirements of Chapter 13, and the cost of the examination must be borne by the Multiple Employer Welfare Arrangement.
S.C. Code Ann. § 38-19-1150 — SC Code / Title 38 / Chapter 19 / Article 13 / Section 38-19-1150
SECTION 38-19-1150. Policyholder meeting to vote on plan.
Status: in_force

(A) After the date of the director's conditioned approval of a plan of reorganization, the mutual insurer shall hold a regular or special meeting of its policyholders at a reasonable time and place to vote upon the plan of reorganization. The mutual insurer shall give at least thirty days' notice, by first class mail, to the last known address of each policyholder that the plan of reorganization will be voted on at a regular or special meeting of the policyholders. If the meeting of policyholders to vote upon the plan of reorganization is held coincident with the mutual insurer's annual meeting of the policyholders, only one combined notice of meeting is required. (B) The notice shall include a description of the plan of reorganization and a statement that the director has reviewed the proposed plan of reorganization and has approved the plan subject to the approval of the policyholders. The notice to policyholders will include a statement by the director that the director's approval pursuant to this section is not a recommendation to either accept or reject the Plan of Reorganization. The notice to each policyholder shall also include a written proxy permitting the policyholder to vote for or against the plan of reorganization. A plan of reorganization shall be approved by the affirmative vote of a two-thirds majority of the policyholders voting in person or by proxy at the meeting. (C) For purposes of voting, policyholders means the policyholders of the mutual insurer on the day the plan of reorganization is initially approved by the board of directors of the mutual insurer. The entity to which a group insurance policy is issued, and not a person covered under the group insurance policy, shall be considered the policyholder for purposes of voting. Each policyholder shall be entitled to only one vote regardless of the number of policies owned by the policyholder. (D) If a mutual insurer substantially complies in good faith with the notice requirements of this section, the mutual insurer's failure to give a policyholder a required notice does not impair the validity of an action taken under this section.
S.C. Code Ann. § 38-73-1370 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1370
SECTION 38-73-1370. Rating organizations not permitted to file certain rate increases; filing pure loss component of rate or premium; use of approved pure loss component by members or subscribers.
Status: in_force

After June 30, 1989, no rating organization may file a rate increase with the department for any previously approved final rate or premium charge for any private passenger automobile insurance coverage. A rating organization may file the pure loss component of the rate or premium charge for any private passenger automobile insurance coverage, by class and territory, for the approval of the director or his designee. The director or his designee may approve the pure loss component of the rate or premium charge for use by the members or subscribers of the rating organization. No member or subscriber may use the approved pure loss component of the rate or premium charge unless and until the expense component of the rate or premium charge has also been filed with the department and approved by the director or his designee pursuant to Section 38-73-1380.
S.C. Code Ann. § 38-55-560 — SC Code / Title 38 / Chapter 55 / Article 5 / Section 38-55-560
SECTION 38-55-560. Insurance Fraud Division; duties; powers and duties of Attorney General; forensic accountant.
Status: in_force

(A) There is established in the Office of the Attorney General a division to be known as the Insurance Fraud Division, which must prosecute violations of Sections 38-55-170 and 38-55-540 and related criminal insurance activity. Upon receipt of any claims or allegations of violations of Section 38-55-170 and 38-55-540 and related criminal insurance activity, the Attorney General shall forward the information to the State Law Enforcement Division for investigation. (B) The Attorney General, upon receipt of any claims or allegations of violations of Sections 38-55-170 and 38-55-540 and related criminal insurance activity, is empowered to: (1) refer the matter for investigation to the State Law Enforcement Division; (2) prosecute persons determined to be in violation of Sections 38-55-170 and 38-55-540 and related criminal insurance activity in a court of competent jurisdiction; and (3) collect fines and restitution ordered by the court. Where considered appropriate, the Attorney General may use the Setoff Debt Collection Act to collect fines and restitution ordered as a result of actions brought pursuant to Sections 38-55-170 and 38-55-540. (C) The State Law Enforcement Division shall investigate thoroughly all claims or allegations of violations of Sections 38-55-170 and 38-55-540 and related criminal insurance activity received from the Attorney General pursuant to this section. (D) The Insurance Fraud Division of the Office of Attorney General and the investigative services of the State law Enforcement Division as provided by this section must be funded by an appropriation of not less than two hundred thousand dollars annually from the general revenues of the State derived from the insurance premium taxes collected by the Department of Insurance and/or from fines assessed under Sections 38-55-170 and 38-55-540 which must be deposited in the general revenue fund to the credit of the Office of the Attorney General and the State Law Enforcement Division to offset the costs of this program; provided, that the funds generated from these fines, to be utilized by either the Office of the Attorney General or the State Law Enforcement Division shall not total more than five hundred thousand dollars. These monies must be shared equally on a fifty-fifty basis by the Office of the Attorney General and the State Law Enforcement Division, and the balance must go to the general fund of the State. (E) The Office of the Attorney General is authorized to hire, employ, and reasonably equip one forensic accountant, and this forensic accountant must be assigned to the Insurance Fraud Division of the Office of the Attorney General. A person is not qualified to be hired and the Insurance Fraud Division may not hire a forensic accountant unless he possesses and maintains a current license to engage in the practice of accounting pursuant to the provisions of Chapter 2, Title 40.
S.C. Code Ann. § 38-13-360 — SC Code / Title 38 / Chapter 13 / Article 3 / Section 38-13-360
SECTION 38-13-360. Penalty for failure to comply with provisions of article.
Status: in_force

Each insurer who fails to comply with the terms of Sections 38-13-300 through 38-13-350 shall pay a civil penalty of a fine of twenty thousand dollars and thereafter a fine of one thousand dollars daily until the named sections of the article are complied with.
S.C. Code Ann. § 38-71-245 — SC Code / Title 38 / Chapter 71 / Article 1 / Section 38-71-245
SECTION 38-71-245. Prohibited grounds for denial of enrollment to child of health plan participant.
Status: in_force

No health insurer, including a group health plan, as defined in Section 607(1) of the Employee Retirement Income Security Act of 1974 or health maintenance organization as defined in Section 38-33-20, may deny enrollment of a child under the health plan of the child's parent on the grounds that the child: (1) was born out of wedlock; (2) is not claimed as a dependent on the parent's federal tax return; or (3) does not reside with the parent or in the insurer's service area.
S.C. Code Ann. § 38-87-80 — SC Code / Title 38 / Chapter 87 / Section 38-87-80
SECTION 38-87-80. Purchasing group; notice of intent to do business; notice of changes; designation of commissioner as agent for service; exceptions; additional information.
Status: in_force

(A) A purchasing group prior to doing business in this State shall furnish notice to the department, on forms prescribed or approved by it, which shall: (1) identify the state in which the group is domiciled; (2) identify all other states in which the group intends to do business; (3) specify the lines and classifications of liability insurance which the purchasing group intends to purchase; (4) identify the insurance company from which the group intends to purchase its insurance and the domicile of such company; (5) specify the method by which, and the person, if any, through whom insurance will be offered to its members whose risks are resident or located in this State; (6) identify the principal place of business of the group; (7) provide other information as may be required by the director or his designee to verify that the purchasing group is qualified under Section 38-87-20(10). (B) A purchasing group shall notify, within ten days, the director or his designee of any changes in any of the items set forth in subsection (A) of this section. (C) The purchasing group shall register with the department and designate the Director of the Department of Insurance as its agent solely for the purpose of receiving service of legal documents or process, except that such requirements do not apply in the case of a purchasing group which satisfies the director or his designee that it only purchases insurance that was authorized under the Federal Products Liability Risk Retention Act of 1981, and: (1) that in any state of the United States (a) it was domiciled before April 1, 1986; and (b) it is domiciled on and after October 27, 1986; (2) that (a) before October 27, 1986, it purchased insurance from an insurance carrier licensed in any state; and (b) since October 27, 1986, it purchased its insurance from an insurance carrier licensed in any state; or (3) that it was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981 before October 27, 1986. (D) Each purchasing group that is required to give notice pursuant to subsection (A) of this section also shall furnish such information as may be required by the director or his designee to: (1) verify that the entity qualifies as a purchasing group; (2) determine where the purchasing group is located; (3) determine appropriate tax treatment.
S.C. Code Ann. § 38-27-220 — SC Code / Title 38 / Chapter 27 / Article 3 / Section 38-27-220
SECTION 38-27-220. Court's seizure order.
Status: in_force

(a) The director or his designee may file in the circuit court a petition alleging, with respect to a domestic insurer: (1) that grounds exist that would justify a court order for a formal delinquency proceeding against an insurer under this chapter; (2) that the interests of policyholders, creditors, or the public will be endangered by delay; and (3) the contents of an order considered necessary by the director or his designee. (b) Upon a filing under subsection (a), the court may issue forthwith, ex parte and without a hearing, the requested order which shall direct the department to take possession and control of all or a part of the property, books, accounts, documents, and other records of an insurer and of the premises occupied by it for transaction of its business and, until further order of the court, shall enjoin the insurer and its officers, managers, agents, and employees from disposition of its property and from transaction of its business except with the written consent of the director or his designee. (c) The court shall specify in the order what its duration is, which must be the time the court considers necessary for the department to ascertain the condition of the insurer. On motion of either party or on its own motion, the court may hold any hearings it considers desirable after notice it considers appropriate and may extend, shorten, or modify the terms of the seizure order. The court shall vacate the seizure order if the department fails to commence a formal proceeding under this chapter after having had a reasonable opportunity to do so. An order of the court pursuant to a formal proceeding under this chapter ipso facto vacates the seizure order. (d) Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer. (e) An insurer subject to an ex parte order under this section may petition the court at any time after the issuance of the order for a hearing and review of the order. The court shall hold the hearing and review not more than fifteen days after the request. A hearing under this subsection may be held privately in chambers and it must be so held if the insurer proceeded against so requests. (f) If, at any time after the issuance of a seizure order, it appears to the court that any person whose interest is or will be substantially affected by the order did not appear at the hearing and has not been served, the court may order that notice be given. An order that notice be given does not stay the effect of any order previously issued by the court.
S.C. Code Ann. § 38-10-40 — SC Code / Title 38 / Chapter 10 / Section 38-10-40
SECTION 38-10-40. Protected cell assets; liabilities chargeable; crediting income gain and loss; valuation; securitization; documentation and identification of protected cell; closure of protected cell account.
Status: in_force

(A) The protected cell assets of a protected cell may not be charged with liabilities arising out of any other business the protected cell company may conduct. All contracts or other documentation reflecting protected cell liabilities shall clearly indicate that only the protected cell assets are available for the satisfaction of those protected cell liabilities. (B) The income, gains and losses, realized or unrealized, from protected cell assets and protected cell liabilities must be credited to or charged against the protected cell without regard to other income, gains, or losses of the protected cell company, including income, gains, or losses of other protected cells. Amounts attributed to any protected cell and accumulations on the attributed amounts may be invested and reinvested without regard to any requirements or limitations of Chapter 12 of this title and the investments in a protected cell or cells may not be taken into account in applying the investment limitations otherwise applicable to the investments of the protected cell company. (C) Assets attributed to a protected cell must be valued at their market value on the date of valuation or if there is no readily available market, as provided in the contract or the rules or other written documentation applicable to the protected cell. (D) A protected cell company with respect to any of its protected cells, shall engage in fully funded indemnity triggered insurance securitization to support in full the protected cell exposures attributable to that protected cell. A protected cell company insurance securitization that is nonindemnity triggered shall qualify as an insurance securitization under the terms of this chapter only after the director promulgates regulations addressing the methods of funding of the portion of this risk that is not indemnity based and addressing accounting, disclosure, risk based capital treatment, and assessing risks associated with such securitizations. A protected cell company insurance securitization that is not fully funded, whether indemnity triggered or nonindemnity triggered, is prohibited. Protected cell assets may be used to pay interest or other consideration on any outstanding debt or other obligation attributable to that protected cell, and nothing in this subsection may be construed or interpreted to prevent a protected cell company from entering into a swap agreement or other transaction for the account of the protected cell that has the effect of guaranteeing interest or other consideration. (E) In all protected cell company insurance securitizations, the contracts or other documentation effecting the transaction shall contain provisions identifying the protected cell to which the transaction will be attributed. In addition, the contracts or other documentation shall clearly disclose that the assets of that protected cell, and only those assets, are available to pay the obligations of that protected cell. Notwithstanding the provisions of this subsection and subject to the provisions of this chapter and any other applicable law or regulation, the failure to include such language in the contracts or other documentation may not be used as the sole basis by creditors, reinsurers, or other claimants to circumvent the provisions of this chapter. (F) A protected cell company only may attribute to a protected cell account the insurance obligations relating to the protected cell company's general account. Under no circumstances may a protected cell be authorized to issue insurance or reinsurance contracts directly to policyholders or reinsureds or have any obligation to the policyholders or reinsureds of the protected cell company's general account. (G) At the cessation of business of a protected cell in accordance with the plan approved by the director, the protected cell company voluntarily shall close out the protected cell account.
S.C. Code Ann. § 38-21-190 — SC Code / Title 38 / Chapter 21 / Section 38-21-190
SECTION 38-21-190. Termination of registration.
Status: in_force

The director or his designee shall terminate the registration of an insurer that is no longer a member of an insurance holding company system.
S.C. Code Ann. § 38-57-300 — SC Code / Title 38 / Chapter 57 / Section 38-57-300
SECTION 38-57-300. Attorney General to defend actions against director for recovery of fines; how judgment against director to be paid.
Status: in_force

The Attorney General shall defend any suit or proceeding against the director or his designee for the recovery of fines allegedly illegally or unjustly paid under this title. Any judgment against the director or his designee must be paid in the manner prescribed in Section 38-57-290.
S.C. Code Ann. § 38-81-390 — SC Code / Title 38 / Chapter 81 / Article 3 / Section 38-81-390
SECTION 38-81-390. Annual statement.
Status: in_force

The association shall file in the office of the department annually by March first a statement containing information with respect to its transactions, condition, operations, and affairs during the preceding year. The statement shall contain information prescribed by the director or his designee and must be in the form he directs. The director or his designee, at any reasonable time, may require the association to furnish additional information concerning its transactions, condition, or any matter connected therewith considered to be material and of assistance in evaluating the scope, operations, and experience of the association.
S.C. Code Ann. § 38-71-520 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-520
SECTION 38-71-520. Definitions.
Status: in_force

As used in this subarticle, unless the context clearly indicates otherwise, the following words or phrases have the following meaning: (1) "Form" means policies, contracts, riders, endorsements, and applications as provided in SECTION 38-71-310. (2) "Accident and health insurance" means insurance written under this article, other than credit accident and health insurance. (3) "Policy" means the entire contract between the insurer and the insured, including the policy, riders, endorsements, and the application, if attached, and also includes subscriber contracts issued by nonprofit hospital, medical, and dental service associations.
S.C. Code Ann. § 38-13-400 — SC Code / Title 38 / Chapter 13 / Article 5 / Section 38-13-400
SECTION 38-13-400. Report disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions; when due; confidentiality.
Status: in_force

(A) Effective January 1, 1995, each insurer domiciled in this State and, effective July 1, 2006, each health maintenance organization domiciled in this State, shall file a report with the director or his designee disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements, unless these acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements have been submitted to the director or his designee for review, approval, or information purposes pursuant to other provisions of the insurance laws, regulations, or other requirements. (B) The report required in subsection (A) is due within fifteen days after the end of the calendar month in which any of the foregoing transactions occur. (C) All reports obtained by or disclosed to the director or his designee, pursuant to this section or Section 38-13-410 or 38-13-420 must be given confidential treatment and are not subject to subpoena and may not be made public by the director, his designee, or any other person, except to insurance departments of other states, without the prior written consent of the insurer or health maintenance organization to which it pertains, unless the director or his designee, after giving the insurer or health maintenance organization that is affected notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public is best served by the publication of the reports, then the director or his designee may publish all or any part of them in the manner as the director or his designee considers appropriate.
S.C. Code Ann. § 38-75-350 — SC Code / Title 38 / Chapter 75 / Article 5 / Section 38-75-350
SECTION 38-75-350. Application for coverage; issuance of policy.
Status: in_force

(A) A person having an insurable interest in insurable property is entitled to apply to the association for coverage and for an inspection of the property. The application must be made on behalf of the applicant by a licensed broker or agent authorized by him. An application must be submitted on a form prescribed by the association and approved by the director or his designee. The application must contain a statement as to whether or not there are any unpaid premiums due from the applicant for fire insurance on the property. The term "insurable interest" as used in this section includes any lawful and substantial economic interest in the safety or preservation of property from loss, destruction, or pecuniary damage. (B) If the association determines that the property is insurable and that there is no unpaid premium due from the applicant for prior insurance on the property, the association upon receipt of the premium, or a portion of it as is prescribed in the plan of operation, shall cause to be issued a policy of essential property insurance for a term of at least one year. (C) If the association, for any reason, denies an application and refuses to cause to be issued an insurance policy on insurable property to an applicant or takes no action on an application within the time prescribed in the plan of operation, the applicant may appeal to the director or his designee and the director or a member of his staff designated by him, after reviewing the facts, may direct the association to issue or cause to be issued an insurance policy to the applicant. In carrying out its duties pursuant to this section, the director or his designee may request, and the association shall provide, any information the director or his designee considers necessary to a determination concerning the reasons for the denial or delay of the application.
S.C. Code Ann. § 38-77-710 — SC Code / Title 38 / Chapter 77 / Article 7 / Section 38-77-710
SECTION 38-77-710. Appointment of attorneys as arbitrators to hear and determine property damage liability claims; process and procedure.
Status: in_force

The court of common pleas, or any inferior courts having concurrent jurisdiction, in and for each county, shall by order of reference appoint an attorney or attorneys to hear and determine, by arbitration, property damage liability claims arising out of motor vehicle collisions or accidents and to award actual and punitive damages. This order must be consistent with the provisions of this chapter and may not be inconsistent with the Rules of the Supreme Court of South Carolina. Process and procedure must be as summary and simple as may be reasonable and may provide for the taking of evidence in the form of reports, statements, or itemized bills or in any other manner without the procedural and evidentiary limitations which pertain in jury trials. The court may provide for the taking of depositions of a witness within or without the State.
S.C. Code Ann. § 38-75-430 — SC Code / Title 38 / Chapter 75 / Article 5 / Section 38-75-430
SECTION 38-75-430. Association shall file statement of transactions and the like; additional information.
Status: in_force

The association shall file with the department by March thirty-first of each year a statement which summarizes the transactions, conditions, operations, and affairs of the association during the preceding fiscal year ending October thirty-first. The statement must contain any matters and information prescribed by the department and must be in the form required by it. The department may at any time require the association to furnish to it any additional information with respect to its transactions or any other matter which it considers material to assist it in evaluating the operation and experience of the association.
S.C. Code Ann. § 38-63-610 — SC Code / Title 38 / Chapter 63 / Article 5 / Section 38-63-610
SECTION 38-63-610. Premiums, values, and benefits of life insurance plans providing for future premium determination.
Status: in_force

In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience or, in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in Sections 38-63-520 to 38-63-600, then: (a) The director or his designee must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by Sections 38-63-520 to 38-63-600. (b) The director or his designee must be satisfied that the benefits and the pattern of premiums of that plan are not misleading to prospective policyholders or insureds. (c) The cash surrender values and paid-up nonforfeiture benefits provided by the plan may not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this article, as determined by regulations promulgated by the department.
S.C. Code Ann. § 38-53-90 — SC Code / Title 38 / Chapter 53 / Section 38-53-90
SECTION 38-53-90. Qualifications for licensure of professional bondsman, surety bondsman or runner.
Status: in_force

(A) Before a license is issued to an applicant permitting him to act as a professional bondsman or runner, the applicant shall furnish to the director or his designee a complete set of his fingerprints and a recent passport size full-face photograph in the manner prescribed by the director. Before a license is issued to a new or renewal applicant permitting him to act as a professional surety bondsman or runner, the applicant must undergo a state criminal records check, supported by his fingerprints, by the South Carolina Law Enforcement Division (SLED) and a national criminal records check, supported by his fingerprints, by the Federal Bureau of Investigation (FBI). The results of these criminal records checks must be reported by the department. The cost associated with the criminal history record must be borne by the applicant. The applicant's fingerprints must be certified by an authorized law enforcement officer. (B) Before being issued the license, every applicant for a license as a professional bondsman, surety bondsman, or runner shall certify to the director that he: (1) is eighteen years of age or older; (2) is a resident of this State; (3) is a person of good moral character and has not been convicted of a felony or any crime involving moral turpitude within the last ten years; (4) has knowledge, training, or experience of sufficient duration and extent to satisfy reasonably the director or his designee that he possesses the competence necessary to fulfill the responsibilities of a licensee.
S.C. Code Ann. § 38-103-50 — SC Code / Title 38 / Chapter 103 / Section 38-103-50
SECTION 38-103-50. Length of benefits available.
Status: in_force

(A) The policy of insurance must set forth the length of family leave benefits that are available for each covered family leave reason, which will in no event be less than two weeks during a period of fifty-two consecutive calendar weeks. (B) Fifty-two consecutive calendar weeks may be calculated by: (1) a calendar year; (2) any fixed period starting on a particular date such as the effective or anniversary date; (3) the period measured forward from the employee's first day of family leave; (4) a rolling period measured by looking back from the employee's first day of family leave; or (5) any other method that is specified in the policy of insurance.
S.C. Code Ann. § 38-12-470 — SC Code / Title 38 / Chapter 12 / Article 3 / Section 38-12-470
SECTION 38-12-470. Tangible personal property; valuation; limitations.
Status: in_force

(A)(1) Subject to the limitations of Section 38-12-430, an insurer may acquire tangible personal property or equity interests in tangible personal property, located or used wholly or in part within a domestic jurisdiction, directly or indirectly through: (a) limited partnership interests or general partnership interests not otherwise prohibited by Section 38-12-60(A)(4); (b) joint ventures; (c) stock of an investment affiliate; (d) membership interests in a limited liability company; (e) trust certificates; or (f) other similar instruments. (2) Investments acquired pursuant to item (1) are eligible only if: (a) the property is subject to a lease or other agreement with a person whose rated credit instruments in the amount of the purchase price of the personal property the insurer could then acquire pursuant to Section 38-12-440; and (b) the lease or other agreement provides the insurer the right to receive rental, purchase, or other fixed payments for the use or purchase of the property, and the aggregate value of the payments, together with the estimated residual value of the property at the end of its useful life and the estimated tax benefits to the insurer resulting from ownership of the property, are adequate to return the cost of the insurer's investment in the property plus a return considered adequate by the insurer. (B) The insurer shall compute the amount of each investment pursuant to this section on the basis of the out-of-pocket purchase price and applicable related expenses paid by the insurer for the investment, net of each borrowing made to finance the purchase price and expenses to the extent the borrowing is without recourse to the insurer. (C) An insurer may not acquire, directly or indirectly through an investment affiliate, an investment pursuant to this section if as a result of and after giving effect to the investment the aggregate amount of all investments then held by the insurer pursuant to this section exceeds: (1) two percent of its admitted assets; or (2) one-half of one percent of its admitted assets as to a single item of tangible personal property. (D) For purposes of determining compliance with the limitations of Section 38-12-430, investments acquired by an insurer pursuant to this section must be aggregated with those acquired pursuant to Section 38-12-440, and each lessee of the property pursuant to a lease referred to in this section is considered the issuer of an obligation in the amount of the investment of the insurer in the property determined as provided in subsection (B). (E) Nothing in this section applies to tangible personal property lease arrangements between an insurer and its subsidiaries and affiliates pursuant to a cost sharing arrangement or agreement permitted pursuant to Chapter 21 of this title.
S.C. Code Ann. § 38-33-150 — SC Code / Title 38 / Chapter 33 / Section 38-33-150
SECTION 38-33-150. Agent for organization; exemption from licensing requirements.
Status: in_force

(A) An agent means a person who is appointed or employed by a health maintenance organization and who engages in solicitation of membership in the organization. This definition does not include a person enrolling members on behalf of an employer, union, or other organization to whom a master subscriber contract has been issued. (B) The department may by regulation exempt certain classes of persons from the requirement of obtaining a license: (1) if the functions they perform do not require special competence, trustworthiness, or the regulatory surveillance made possible by licensing; or (2) if other existing safeguards make regulation unnecessary.
S.C. Code Ann. § 38-2-20 — SC Code / Title 38 / Chapter 2 / Section 38-2-20
SECTION 38-2-20. Penalties for conviction of misdemeanor.
Status: in_force

Any person convicted of a misdemeanor defined in this title must be punished by a fine of not more than two thousand five hundred dollars or by imprisonment for not more than two years, or both, unless another penalty is specifically provided by law.
S.C. Code Ann. § 38-73-915 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-915
SECTION 38-73-915. Authority granted director or designee; effect of legislation and court decisions.
Status: in_force

(A) The director or his designee in reviewing rate filings may take into consideration recently passed legislation or recently rendered court decisions which will have an effect on insurance rates. The director or his designee may use such information to reduce or increase the rate level of the insurer or the rating organization. (B) The director or his designee may order an insurer or rating organization to reduce or increase its current rate levels as a result of recently passed legislation or recently rendered court decisions. The director or his designee shall give the insurer or rating organization and the Consumer Advocate thirty days notice of his intention to order a reduction or increase in an insurer's or rating organization's rate level. The insurer or rating organization or the Consumer Advocate may request a hearing before the director or his designee under the Administrative Procedures Act to contest the proposed order. The Consumer Advocate may participate as a party in any such hearings.
S.C. Code Ann. § 38-89-190 — SC Code / Title 38 / Chapter 89 / Section 38-89-190
SECTION 38-89-190. Examination of financial condition; annual report.
Status: in_force

The director or his designee shall make an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the department, the Governor, and the General Assembly. The expenses of the examination must be paid by the association.
S.C. Code Ann. § 38-53-190 — SC Code / Title 38 / Chapter 53 / Section 38-53-190
SECTION 38-53-190. Certain persons not allowed to be surety; exceptions.
Status: in_force

No sheriff, deputy sheriff, other law enforcement officer, judicial official, attorney, parole officer, probation officer, jailer, assistant jailer, employee of any court of this State, or other public employee assigned to duties relating to the administration of the court may become a surety on a bail bond for any person. No person covered by this section may act as agent for any bonding company or professional bondsman, nor may he have an interest, directly or indirectly, in the financial affairs of any firm or corporation whose principal business is acting as bondsmen. Nothing in this section prohibits any person designated above from being a surety upon the bond of his spouse, parent, brother, sister, child, or descendant.
S.C. Code Ann. § 38-71-1355 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1355
SECTION 38-71-1355. Health group cooperative; powers and duties.
Status: in_force

(1) shall arrange for group health insurance plan coverage for small employers who are members of the cooperative by contracting with small employer insurers who meet the criteria established by this chapter for coverage under group health insurance plans; (2) shall collect premiums to cover the cost of: (a) group health insurance plan coverage purchased through the cooperative; and (b) the cooperative's administrative expenses; (3) may contract with agents to market coverage issued through the cooperative; (4) shall establish administrative and accounting procedures for the operation of the cooperative; (5) shall establish procedures under which an applicant for or participant in coverage issued through the cooperative may have a grievance reviewed by an impartial person; (6) may contract with a small employer insurer or third-party administrator to provide administrative services to the cooperative; (7) shall contract with small employer insurers for the provision of services to small employers covered through the cooperative; (8) shall develop and implement a plan to maintain public awareness of the cooperative and publicize the eligibility requirements and the procedures for enrollment in coverage through the cooperative; (9) may negotiate the premiums paid by its members; and (10) may offer other ancillary products and services to its members as are customarily offered in conjunction with group health insurance plans.
S.C. Code Ann. § 38-63-280 — SC Code / Title 38 / Chapter 63 / Article 3 / Section 38-63-280
SECTION 38-63-280. Written disclosures.
Status: in_force

At the time an insurer makes a policy or premium loan that provides for periodic adjustment of policy or premium loan interest rates, the insurer shall provide a separate written disclosure form to the policyholder using plain understandable language that: (a) Provides an explanation of the dollar impact on policy or premium loans when the adjustable interest rate moves up or down. (b) Provides an explanation of the impact of a policy or premium loan on the benefits payable to the policyholder upon the death of the insured if a policy or premium loan remains unpaid at the time of death of the insured.
S.C. Code Ann. § 38-71-1365 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1365
SECTION 38-71-1365. Small employer insurer requirements; compliance with federal laws applicable to cooperatives.
Status: in_force

(A) A health group cooperative shall contract only with a small employer insurer that demonstrates: (1) that the insurer or health maintenance organization is licensed and in good standing with the Department of Insurance; (2) the capacity to administer the group health insurance plans; (3) the ability to monitor and evaluate the quality and cost effectiveness of care and applicable procedures; (4) the ability to conduct utilization management and applicable procedures and policies; (5) the ability to assure enrollees a sufficient number of health care providers, including specialty providers; and (6) a satisfactory grievance procedure and the ability to respond to enrollees' calls, questions, and complaints. (B) A health group cooperative shall comply with federal laws applicable to cooperatives and group health insurance plans issued through cooperatives, to the extent required by this title or regulations adopted under them.
S.C. Code Ann. § 38-15-70 — SC Code / Title 38 / Chapter 15 / Section 38-15-70
SECTION 38-15-70. Estoppel to deny power to execute bond or assume liability.
Status: in_force

An insurer which executes any bond or undertaking of surety under this chapter is estopped, in any proceeding to enforce the liability which it has assumed to incur, from denying its corporate power to execute the bond or assume the liability.
S.C. Code Ann. § 38-90-550 — SC Code / Title 38 / Chapter 90 / Article 3 / Section 38-90-550
SECTION 38-90-550. Material changes of SPFC'S plan; filing of audit and statement of operations; examination of records.
Status: in_force

(A) Any material change of the SPFC's plan of operation pursuant to the provisions of Section 38-90-440(E)(5), whether or not through a SPFC protected cell, shall require prior approval of the director, provided however: (1) if initially approved in the plan of operation, securities subsequently issued to continue the securitization activities of the SPFC either during or after expiration, redemption, or satisfaction, of all of these, of part or all of the securities issued pursuant to initial insurance securitization transactions may not be considered a material change; or (2) a change and substitution in a counterparty to a swap transaction for an existing insurance securitization as allowed pursuant to the provisions of this article may not be considered a material change if the replacement swap counterparty carries a similar or higher rating to its predecessor with two or more nationally recognized rating agencies, or both. (B) No later than five months after the fiscal year end of the SPFC, the SPFC shall file with the director an audit by a certified public accounting firm of the financial statements of the SPFC and the trust accounts. (C) Each SPFC shall file by March first, a statement of operations, using either generally accepted accounting principles or, if approved or required by the director, statutory accounting principles with useful or necessary modifications or adaptations required or approved or accepted by the director for the type of insurance and kinds of insurers to be reported upon, and as supplemented by additional information required by the director. The statement of operations must include a statement of income, a balance sheet, and may include a detailed listing of invested assets, including identification of assets held in trust to secure the obligations of the SPFC under the SPFC contract. The SPFC also may include with the filing risk based capital calculations and other adjusted capital calculations to assist the director with evaluating the levels of the surplus of the SPFC for the year ending on December thirty-first of the previous year. The statements must be prepared on forms required by the director. In addition the director may require the filing of performance assessments of the SPFC contract. (D) A SPFC shall maintain its records in this State and shall make its records available for examination by the director at any time. The SPFC shall keep its books and records in such manner that its financial condition, affairs, and operations can be ascertained and so that the director may readily verify its financial statements and determine its compliance with this article. (E) All original books, records, documents, accounts, and vouchers must be preserved and kept available in this State for the purpose of examination and until authority to destroy or otherwise dispose of the records is secured from the director. The original records, however, may be kept and maintained outside this State if, according to a plan adopted by the management of the SPFC and approved by the director, it maintains suitable records instead of it. The books or records may be photographed, reproduced on film, or stored and reproduced electronically. (F) Nothing contained in this section with respect to a SPFC shall abrogate, limit, or rescind in any way the authority of the Securities Commissioner pursuant to the provisions of Title 35.
S.C. Code Ann. § 38-45-160 — SC Code / Title 38 / Chapter 45 / Section 38-45-160
SECTION 38-45-160. Brokers policy fees.
Status: in_force

No policy fee may be charged by a broker unless it is a reasonable fee, it is made part of the contract, and the broker's premium tax rate is paid upon the policy fee. If for any reason the director or his designee disapproves the placement or the insurer ultimately refuses to write the risk, the broker shall immediately refund the full policy fee to the policyholder.
S.C. Code Ann. § 38-90-540 — SC Code / Title 38 / Chapter 90 / Article 3 / Section 38-90-540
SECTION 38-90-540. Payment of dividends.
Status: in_force

(A) A SPFC may not declare or pay dividends in any form to its owners other than in accordance with the insurance securitization transaction agreements, and in no extent shall the dividends decrease the capital of the SPFC below two hundred fifty thousand dollars, and, after giving effect to the dividends, the assets of the SPFC, including assets held in trust pursuant to the terms of the insurance securitization, must be sufficient to satisfy the director that it can meet its obligations. Approval by the director of an ongoing plan for the payment of dividends or other distribution by a SPFC must be conditioned upon the retention, at the time of each payment, of capital or surplus equal to or in excess of amounts specified by, or determined in accordance with formulas approved for the SPFC by the director. (B) The dividends may be declared by the management of the SPFC if the dividends do not violate the provisions of this article or jeopardize the fulfillment of the obligations of the SPFC or the trustee pursuant to the SPFC insurance securitization agreements, the SPFC contract, or any related transaction and other provisions of this article.
S.C. Code Ann. § 38-63-510 — SC Code / Title 38 / Chapter 63 / Article 5 / Section 38-63-510
SECTION 38-63-510. Short title; operative date of valuation manual defined.
Status: in_force

(1) This article is known and may be cited as the "Standard Nonforfeiture Law for Life Insurance". (2) The term "operative date of the valuation manual" means January first of the first calendar year that the valuation manual, as defined in Section 38-9-180, is effective. Effect of Amendment 2016 Act No. 148, SECTION 2, inserted paragraph identifier (1) and added (2).
S.C. Code Ann. § 38-71-2020 — SC Code / Title 38 / Chapter 71 / Article 19 / Section 38-71-2020
SECTION 38-71-2020. Liability of independent review organizations and personnel.
Status: in_force

No independent review organization, or employee, officer, or director of an independent review organization or health care professional who furnishes services to an independent review organization is liable to any person for any acts or omissions arising out of or related to an external review conducted pursuant to this article, except for cases of wilful and intentional misconduct.
S.C. Code Ann. § 38-89-20 — SC Code / Title 38 / Chapter 89 / Section 38-89-20
SECTION 38-89-20. Joint underwriting association created; purpose; when activated.
Status: in_force

(A) A joint underwriting association is created, consisting of all insurers authorized to write within this State, on a direct basis, bodily injury liability insurance, other than automobile bodily injury liability insurance, homeowners liability insurance, and farmowners liability insurance, including insurers covering such peril in multiple peril package policies. Every such insurer is and must remain a member of the association as a condition of its authority to continue to transact this kind of insurance in this State. (B) The purpose of the association is to provide day care liability insurance on a self-supporting basis to the fullest extent possible. (C) The association is activated when the Department of Insurance finds and declares the existence of an emergency because of the unavailability of day care liability insurance or the unavailability of such insurance on a reasonable basis through normal channels.
S.C. Code Ann. § 38-3-80 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-80
SECTION 38-3-80. Seal.
Status: in_force

The department shall have a seal with a suitable inscription, an impression of which must be filed with the Secretary of State.
S.C. Code Ann. § 38-59-10 — SC Code / Title 38 / Chapter 59 / Article 1 / Section 38-59-10
SECTION 38-59-10. Proof of loss forms required to be furnished.
Status: in_force

When an insurer under an insurance policy requires a written proof of loss after the notice of the loss has been given by the insured or beneficiary, the insurer or its representative shall furnish a blank to be used for that purpose. If the forms are not furnished within twenty days after the receipt of the notice, the claimant is considered to have complied with the requirements of the policy as to proof of loss upon submitting within the time fixed in the policy for filing proofs of loss written proof covering the occurrence, character, and extent of the loss for which claim is made. The twenty-day period after notice of loss to furnish forms applies to all types of insurance unless a lesser time period is specifically provided by law.
S.C. Code Ann. § 38-33-80 — SC Code / Title 38 / Chapter 33 / Section 38-33-80
SECTION 38-33-80. Enrollee entitled to evidence of coverage; contents of evidence of coverage; discontinuance or replacement of coverage; charges for services.
Status: in_force

(A)(1) Every enrollee is entitled to an evidence of coverage issued by the health maintenance organization. If any of the enrollee's benefits are provided through an insurance policy, the insurer shall issue a separate evidence of coverage for those benefits provided. However, for a point of service option offered jointly by a health maintenance organization and an insurer, only one evidence of coverage is required, as long as the benefits provided by each party are clearly identified therein. (2) Evidence of coverage, or an amendment to it, may not be issued or delivered to a person in this State until a copy of the form of the evidence of coverage, or amendment to it, has been filed with and approved by the director or his designee pursuant to Section 38-71-310(A) or 38-71-720(A). (3) No evidence of coverage may contain provisions or statements which are unjust, unfair, inequitable, misleading, deceptive, which encourage misrepresentation, or which are untrue, misleading, or deceptive as defined in Section 38-33-140; and (4) An evidence of coverage must contain a clear and concise statement, if a contract, a summary, or a certificate, of: (a) the health care services and the insurance or other benefits, if any, to which the enrollee is entitled; (b) any limitations on the services, kind of services, benefits, or kind of benefits, to be provided, including any deductible or co-payment feature; (c) where and in what manner information is available as to how services may be obtained; (d) the total amount of payment for health care services and the indemnity or service benefits, if any, which the enrollee is obligated to pay with respect to individual contracts; (e) clear and understandable description of the health maintenance organization's method for resolving enrollee complaints; and (f) the contract period during which the enrollee is entitled to health care services and benefits, the applicable charges for coverage during that contract period, and the time and manner in which charges and benefits under the contract or certificate can be changed. Any subsequent change may be evidenced in a separate document issued to the enrollee. (5) The director or his designee may require additional provisions in the evidence of coverage as may be necessary to the fair, just, and equitable treatment of enrollees. The additional provisions may include, but are not limited to, any of the provisions required of health insurance policies in Chapter 71 of Title 38 and regulations promulgated thereunder, if in the opinion of the director or his designee, the provisions are appropriate for the coverages provided under the health maintenance organization's evidence of coverage. (6) The provisions of Section 38-71-760 governing discontinuance and replacement of coverage are applicable to group health maintenance organization contracts, except to the extent that the director or his designee determines the provisions to be inappropriate to the coverage provided. (7) A health maintenance organization that issues a health maintenance organization contract which requires the enrollee to pay a specified percentage of the cost of covered health care services shall calculate those copayments and deductibles on the negotiated rate or lesser charge of the provider. Nothing in this section precludes a health maintenance organization from issuing a contract which contains fixed dollar copayments and deductibles. (B) No schedule of charges applicable to individual health maintenance organization contracts may be used until a copy of the schedule has been filed with and approved by the director or his designee. The director or his designee may disapprove this schedule of charges if it is determined that the benefits provided in the contracts are unreasonable in relation to the charges. (C) The director or his designee shall approve within thirty days any form if the requirements of subsection (A) are met. The director or his designee, in his discretion, may extend for up to an additional sixty days the period within which he shall approve or disapprove the form. The director or his designee shall approve, within a reasonable period, any schedule of charges if the requirements of subsection (B) are met. It is unlawful to issue a form or to use a schedule of charges until approved. If the director or his designee disapproves the filing, he shall notify the filer. The notice must contain the reasons for disapproval, and the filer, upon request in writing, is entitled to a public hearing on it. If action is not taken to approve or disapprove any form within thirty days of the filing of the form, if the period is not extended, or at the expiration of the extended period, if any, the filing is deemed approved. If action is not taken to approve or disapprove any schedule of charges within ninety days of the filing of the charges, the filing is deemed approved. An organization may not use a form or schedule of charges deemed approved pursuant to the default provision of this section until the organization has filed with the director or his designee a written notice of its intent to use the form or schedule of charges. The notice must be filed in the office of the director at least ten days before the organization uses the form or schedule of charges. (D) At any time the director or his designee, after a public hearing of which at least thirty days' notice has been given, may withdraw approval of a schedule of charges previously approved under subsection (B) or an evidence of coverage approved under subsection (A) if he determined that the schedule of charges or evidence of coverage no longer meets the standards for approval specified in this section.
S.C. Code Ann. § 38-3-110 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-110
SECTION 38-3-110. Duties of Director of the Department of Insurance.
Status: in_force

The director or his designee has the following duties: (1) supervise and regulate the rates and service of every insurer in this State and fix just and reasonable standards, classifications, regulations, practices, and measurements of service to be observed and followed by every insurer doing business in this State. Nothing contained in this title authorizes or requires a review by the department or the director of any order of the director's designee or the deputy director under the Administrative Procedures Act. This item does not grant any additional authority to the director or his designee with regard to insurance rates other than the ratemaking authority specifically granted to the director or his designee, or the Department of Insurance for certain kinds of insurance in other provisions of this title; (2) see that all laws of this State governing insurers or relating to the business of insurance are faithfully executed and make regulations to carry out this title and all other insurance laws of this State, the enforcement or administration of which is not otherwise specifically provided for; (3) report to the Attorney General or other appropriate law enforcement officials criminal violations of the laws relative to the business of insurance or the provisions of this title which he considers necessary to report; (4) institute civil actions, either through his office or through the Attorney General, relative to the business of insurance or the provisions of this title which he considers necessary to institute. (5)(a) The director may hold a public hearing at a location within the seacoast area, as defined in Section 38-75-310(7), to provide the public with information and an opportunity to discuss and offer input concerning the rates, territory, and other pertinent issues regarding the South Carolina Wind and Hail Underwriting Association. The director must provide publicized notice of the hearing at least thirty days before the date of the public hearing. (b) The director must engage in efforts to provide market assistance and promote consumer education to South Carolina residential property insurance consumers. These efforts may include, but are not limited to: (i) posting on its website information to assist consumers in understanding the general provisions of homeowners insurance policies; (ii) providing information on the mitigation discounts and credits available pursuant to Section 38-73-1095(C), including a summary of those offered by the twenty largest homeowners property insurance issuers by premium volume; (iii) providing information regarding the factors that can affect premium rates; (iv) providing information to assist consumers in identifying insurers writing property insurance coverage in their area; (v) providing a listing of licensed property and casualty producers in their area; and (vi) providing information on catastrophe savings accounts available pursuant to Article 11, Chapter 6, Title 12. (c) The director must submit a report to the President of the Senate, the Speaker of the House of Representatives, the Chairman of the Senate Banking and Insurance Committee, and the Chairman of the House Labor, Commerce and Industry Committee by January thirty-first of each year regarding the status of the coastal property insurance market. The report shall be posted in an electronic format on the department's website within five days of its submission. The report shall include, but not be limited to, the following: (i) status of the South Carolina Wind and Hail Underwriting Association, including any recommended modifications to statutory or regulatory law regarding the operation of the South Carolina Wind and Hail Underwriting Association and its territory; (ii) status of operations and grants issued under the South Carolina Hurricane Damage Mitigation Program as provided for in Section 38-75-485; (iii) availability and affordability of coverage in the coastal area as defined in Section 38-75-310(5), including any portion of the area as it may be expanded pursuant to Section 38-75-460; (iv) consumer outreach and education efforts relating to coastal property insurance issues, including, but not limited to: (a) summary of the annual meeting as required pursuant to item (5)(a); and (b) specific projects and efforts undertaken pursuant to item (5)(b). Editor's Note 2014 Act No. 191, SECTION 1.B, provides as follows: "B. The provisions of this section take effect sixty days after the effective date of this act [June 2, 2014]." Effect of Amendment 2014 Act No. 191, SECTION 1.A, rewrote subsection (5). 2019 Act No. 1, SECTION 52, in (5)(c), in the first sentence, substituted "President of the Senate" for "President Pro Tempore of the Senate". 2019 Act No. 6, SECTION 3, in (5)(a), in the first sentence, substituted "may hold a public hearing at a location" for "must hold a public hearing at least annually at a location". 2023 Act No. 29, SECTION 2, in (5)(b)(iii), substituted "information regarding the factors that can affect premium rates" for "premium comparison information".
S.C. Code Ann. § 38-41-50 — SC Code / Title 38 / Chapter 41 / Section 38-41-50
SECTION 38-41-50. Excess stop-loss coverage required.
Status: in_force

A multiple employer self-insured health plan shall include aggregate excess stop-loss coverage and individual excess stop-loss coverage provided by an insurer licensed, approved, or eligible by the State. A MEWA shall maintain excess insurance coverage written by an insurer that the Department of Insurance considers approved or eligible to do business in this State. This coverage must have a net retention level determined in accordance with sound actuarial principles approved by the director or his designee, and based on the number of risks insured by the MEWA. The MEWA must file the policy contract providing this coverage with the director or his designee. The terms of this policy contract must require that before the insurer may cancel or modify the terms of this policy contract, the insurer must give notice of the pending cancellation or modification of terms to the director at least thirty days before the cancellation or modification may occur. Aggregate excess stop-loss coverage shall include provisions to cover incurred, unpaid claim liability in the event of plan termination. The excess or stop-loss insurer shall bear the risk of coverage for any member of the pool that becomes insolvent with outstanding contributions due. The limits required for an excess stop-loss policy shall be determined by the director or his designee in accordance with sound actuarial principles, so that the probability of incurred claims exceeding the participating employers' fund and the aggregate limit of the excess or stop-loss coverage is de minimus. A plan shall submit its proposed excess or stop-loss insurance contract to the director or his designee at least thirty days prior to the proposed contract's effective date and at least thirty days prior to any renewal date. The director or his designee shall review the contract to determine whether it meets the standards established by this chapter and respond within a thirty-day period. In reviewing an excess stop-loss agreement for approval, the director or his designee will closely scrutinize the agreement to determine whether the levels of individual and aggregate risk retained by the plan will put the plan in an unsound condition or will render its proceedings hazardous to the public or to persons covered under the plan. Any excess or stop-loss insurance contract must be noncancelable for a minimum term of two years. In addition, the plan shall have a participating employer's fund in an amount at least equal to the point at which the excess or stop-loss insurer shall assume a one hundred percent share of additional liability. The amount required for the employer's fund must be determined in accordance with sound actuarial principles and approved by the director or his designee and based upon the number of risks insured by the plan. This employer's fund must be funded via cash or cash equivalent securities.
S.C. Code Ann. § 38-17-110 — SC Code / Title 38 / Chapter 17 / Section 38-17-110
SECTION 38-17-110. "Net annual advance premiums or deposits" defined.
Status: in_force

"Net annual advance premiums or deposits", as used in this chapter, means the advance premiums or deposits made by subscribers after deducting the amounts specifically provided in the subscribers' agreements for expenses.
S.C. Code Ann. § 38-90-110 — SC Code / Title 38 / Chapter 90 / Article 1 / Section 38-90-110
SECTION 38-90-110. Reinsurance; effect on reserves.
Status: in_force

(A) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer. (B)(1) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with the provisions of Sections 38-9-200, 38-9-210, and 38-9-220. (2) An industrial insured captive insurance company or a captive insurance company formed as a risk retention group may not take credit for reserves on risks or portions of risks ceded to a reinsurer if the reinsurer is not in compliance with Sections 38-9-200, 38-9-210, and 38-9-220. (3) All other captive insurance companies may not take credit for reserves on risks or portions of risks ceded to a reinsurer if the reinsurer is not in compliance with Sections 38-9-200, 38-9-210, and 38-9-220, unless specific approval has been granted for this credit or the reinsurer by approval of the director, or the captive insurance company is participating in a risk pool for the purpose of risk sharing, as approved by the director. Effect of Amendment 2014 Act No. 282, SECTION 15, in subsection (B)(2), inserted "or a captive insurance company formed as a risk retention group". 2018 Act No. 251, SECTION 1, in (B)(3), substituted "approval of the director, or the captive insurance company is participating in a risk pool for the purpose of risk sharing, as approved by the director" for "order of the director" at the end.
S.C. Code Ann. § 38-63-540 — SC Code / Title 38 / Chapter 63 / Article 5 / Section 38-63-540
SECTION 38-63-540. Minimum paid-up nonforfeiture benefits.
Status: in_force

Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary must be such that its present value as of such anniversary is at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by this article in the absence of the condition that premiums must have been paid for at least a specified period.
S.C. Code Ann. § 38-9-10 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-10
SECTION 38-9-10. Capital and surplus required of stock insurers; delinquency.
Status: in_force

(A)(1) Before licensing a stock insurer, the director or his designee shall require the insurer to be possessed of capital which must be maintained at all times and surplus, twenty-five percent of which must be maintained at all times, in amounts not less than: (2) The director or his designee may require additional initial capital and surplus based on the type or nature of business transacted, and the initial capital and surplus of the insurer must consist of cash or marketable securities that qualify as admitted assets on the most recent statutory financial statement of the insurer filed with the department pursuant to Section 38-13-80. (B) If the surplus of a stock insurer is less than twenty-five percent of the surplus initially required, as set forth in subsection (A), the insurer is considered delinquent, and the director or his designee may begin delinquency proceedings as provided by Chapter 27 of this title. (C) If the capital of a stock insurer is impaired, the insurer is delinquent, and the director or his designee shall begin delinquency proceedings.
S.C. Code Ann. § 38-73-420 — SC Code / Title 38 / Chapter 73 / Article 5 / Section 38-73-420
SECTION 38-73-420. Insurance subject to both this article and Article 3.
Status: in_force

If any kind of insurance, subdivision, or combination thereof or type of coverage subject to this article is also subject to regulation under Article 3 of this chapter, an insurer to which both articles are otherwise applicable shall file with the department a designation as to which regulatory article shall be applicable to it with respect to that kind of insurance, subdivision, or combination thereof or type of coverage.
S.C. Code Ann. § 38-63-630 — SC Code / Title 38 / Chapter 63 / Article 5 / Section 38-63-630
SECTION 38-63-630. Cash surrender value of policies issued on or after January 1, 1986.
Status: in_force

This section, in addition to all other applicable sections of this article, applies to all policies issued on or after January 1, 1986. Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary must be in an amount which does not differ by more than two-tenths of one percent of either the amount of insurance, if the insurance is uniform in amount, or the average amount of insurance at the beginning of each of the first ten policy years, from the sum of (a) the greater of zero and the basic cash value hereinafter specified and (b) the present value of any existing paid-up additions less the amount of any indebtedness to the company under the policy. The basic cash value must be equal to the present value, on such anniversary, of the future guaranteed benefits which would have been provided for by the policy, excluding any existing paid-up additions and before deduction of any indebtedness to the company, if there had been no default, less the then present value of the nonforfeiture factors, as hereinafter defined, corresponding to premiums which would have fallen due on and after the anniversary. The effects on the basic cash value of supplemental life insurance or annuity benefits or of family coverage, as described in SECTION 38-63-530 or 38-63-570, whichever is applicable, must be the same as are the effects specified in SECTION 38-63-530 or 38-63-570, whichever is applicable, on the cash surrender values defined in that section. The nonforfeiture factor for each policy year must be an amount equal to a percentage of the adjusted premium for the policy year, as defined in SECTION 38-63-570 or 38-63-600, whichever is applicable. Except as is required by the next succeeding sentence of this paragraph, the percentage: (a) Must be the same percentage for each policy year between the second policy anniversary and the later of (i) the fifth policy anniversary and (ii) the first policy anniversary at which there is available under the policy a cash surrender value in an amount, before including any paid-up additions and before deducting any indebtedness, of at least two-tenths of one percent of either the amount of insurance, if the insurance is uniform in amount, or the average amount of insurance at the beginning of each of the first ten policy years. (b) Must be such that no percentage after the later of the two policy anniversaries specified in the preceding item (a) may apply to fewer than five consecutive policy years. No basic cash value may be less than the value which would be obtained if the adjusted premiums for the policy, as defined in SECTION 38-63-570 or 38-63-600, whichever is applicable, were substituted for the nonforfeiture factors in the calculation of the basic cash value. All adjusted premiums and present values referred to in this section must for a particular policy be calculated on the same mortality and interest bases as are used in demonstrating the policy's compliance with the other sections of this article. The cash surrender values referred to in this section include any endowment benefits provided for by the policy. Any cash surrender value available other than in the event of default in a premium payment due on a policy anniversary and the amount of any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment must be determined in ways consistent with the ways specified for determining the analogous minimum amounts in SECTIONS 38-63-520 to 38-63-540, 38-63-600, and 38-63-620. The amounts of any cash surrender values and of any paid-up nonforfeiture benefits granted in connection with additional benefits such as those listed as items (a) through (f) of subsection (8) of SECTION 38-63-600 shall conform with the principles of this section.
S.C. Code Ann. § 38-29-50 — SC Code / Title 38 / Chapter 29 / Section 38-29-50
SECTION 38-29-50. Association created; membership as a condition of authority to transact insurance; accounts; supervision.
Status: in_force

(1) There is created a nonprofit legal entity to be known as the South Carolina Life and Accident and Health Insurance Guaranty Association. All member insurers are and must remain members of the association as a condition of their authority to transact insurance in this State. The association shall perform its functions under the plan of operation established and approved under Section 38-29-90 and shall exercise its powers through a board of directors established under Section 38-29-60. For purposes of administration and assessment, the association shall maintain three accounts: (a) the accident and health insurance account; (b) the life insurance account; and (c) the annuity account. (2) The association is under the immediate supervision of the department and is subject to the applicable insurance laws of this State. Editor's Note 2020 Act No. 121, SECTION 1.B, provides as follows: "[1.]B. The amendments made by this act do not apply to a member insurer that has been placed under an order of rehabilitation or liquidation before July 1, 2020." Effect of Amendment 2020 Act No. 121, SECTION 1.A, reenacted the section with no apparent changes.
S.C. Code Ann. § 38-27-950 — SC Code / Title 38 / Chapter 27 / Article 7 / Section 38-27-950
SECTION 38-27-950. Ancillary summary proceedings.
Status: in_force

The director or his designee in his sole discretion may institute proceedings under Sections 38-27-220 and 38-27-230 at the request of the commissioner or other appropriate insurance official of the domiciliary state of a foreign or an alien insurer having property located in this State.
S.C. Code Ann. § 38-73-970 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-970
SECTION 38-73-970. Effective date for specially rated inland marine rates.
Status: in_force

Specific inland marine rates on risks specially rated by a rating organization become effective when filed and are considered to meet the requirements of this chapter until the time the director or his designee reviews the filing and so long thereafter as the filing remains in effect.
S.C. Code Ann. § 38-12-70 — SC Code / Title 38 / Chapter 12 / Article 1 / Section 38-12-70
SECTION 38-12-70. Direct or indirect financial interest prohibited; loans to officers or directors.
Status: in_force

(A)(1) Except as provided in subsection (B), unless an insurer has notified the director in writing of its intention to enter into the transaction at least thirty days before entering into it, or a shorter period as the director may permit, and the director has not disapproved the transaction within the time period, the insurer may not, directly or indirectly: (a) make a loan to or other investment in an officer or director of the insurer or a person in which the officer or director has any direct or indirect financial interest; (b) make a guarantee for the benefit of or in favor of an officer or director of the insurer or a person in which the officer or director has any direct or indirect financial interest; or (c) enter into an agreement for the purchase or sale of property from or to an officer or director of the insurer or a person in which the officer or director has any direct or indirect financial interest. (2) For purposes of this section, an officer or director is not considered to have a financial interest by reason of an interest that is held directly or indirectly through the ownership of equity interests representing less than two percent of all outstanding equity interests issued by a person that is a party to the transaction, or for the sole reason of the position of that individual as a director or officer of a person that is a party to the transaction. (3) This subsection does not permit an investment that is prohibited by Section 38-12-60. (4) This subsection does not apply to a transaction between an insurer and its subsidiaries or affiliates that is entered into in compliance with Chapter 21 of this title other than a transaction between an insurer and its officer or director. (B) An insurer, without the previous written approval of the director, may make: (1) policy loans in accordance with the terms of the policy or contract and Section 38-12-310; (2) advances to officers or directors for expenses reasonably expected to be incurred in the ordinary course of the insurer's business or guarantees associated with credit or charge cards issued or credit extended for the purpose of financing these expenses; (3) loans secured by the principal residence of an existing or new officer of the insurer made in connection with the officer's relocation at the request of the insurer, if the loans comply with the requirements of Section 38-12-270 or 38-12-480 and the terms and conditions otherwise are the same as those generally available from unaffiliated third parties; (4) secured loans to an existing or new officer of the insurer made in connection with the officer's relocation at the request of the insurer, if the loans: (a) do not have a term exceeding two years; (b) are required to finance mortgage loans outstanding at the same time on the previous and new residences of the officer; (c) do not exceed an amount equal to the equity of the officer in the previous residence; and (d) are required to be fully repaid upon the earlier of the end of the two- year period or the sale of the previous residence; and (5) loans and advances to officers or directors made in compliance with state or federal law specifically related to the loans and advances by a regulated noninsurance subsidiary or affiliate of the insurer in the ordinary course of business and on terms no more favorable than available to other customers of the entity.
S.C. Code Ann. § 38-71-790 — SC Code / Title 38 / Chapter 71 / Article 5 / Section 38-71-790
SECTION 38-71-790. Payment of benefits.
Status: in_force

The benefits payable under any policy or contract of group accident, group health, and group accident and health insurance are payable to the employee or to some beneficiary or beneficiaries designated by him, other than the employer. However, if there is no designated beneficiary as to all or any part of the insurance at the death of the employee or member, then the amount of insurance payable for which there is no designated beneficiary is payable to the estate of the employee or member, except that: (1) the insurer may in such case, at its option, pay the insurance to any one or more of the following surviving relatives of the employee or member: wife, husband, mother, father, child or children, or brothers or sisters; and (2) payment of benefits for expenses incurred on account of hospitalization or medical or surgical aid, as provided in SECTION 38-71-800, may be made by the insurer to the hospital or other person furnishing the aid. Payment so made discharges the insurer's obligation with respect to the amount of insurance so paid.
S.C. Code Ann. § 38-71-1320 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1320
SECTION 38-71-1320. Purpose and intent.
Status: in_force

The purpose and intent of this article is to promote the availability of health insurance coverage to small employers, excluding individual health insurance plans, regardless of their health status or claims experience, to provide for development of "basic" and "standard" health insurance plans to be offered to all small employers, to provide for establishment of a reinsurance program, to improve the overall fairness and efficiency of the small group health insurance market, and to allow small employers to form cooperatives for the purpose of providing health insurance to their employees.
S.C. Code Ann. § 38-81-380 — SC Code / Title 38 / Chapter 81 / Article 3 / Section 38-81-380
SECTION 38-81-380. Appeals.
Status: in_force

Any applicant for insurance through the association, any person insured pursuant to this article, or his representative, or any insurer adversely affected, or claiming to be adversely affected, by any ruling, action, or decision by or on behalf of the association, may appeal to the director or his designee within thirty days after the ruling, action, or decision.
S.C. Code Ann. § 38-38-240 — SC Code / Title 38 / Chapter 38 / Article 5 / Section 38-38-240
SECTION 38-38-240. Reinsurance.
Status: in_force

(A) A domestic ceding society must comply with Section 38-9-200, but the society may not reinsure substantially all of its insurance in force without the written permission of the director or his designee. (B) Notwithstanding subsection (A) of this section, a domestic society may reinsure the risks of another society in a consolidation, merger, or assumption reinsurance transaction approved by the director or his designee.