reglab/housing_qa huggingface dataset:
SC Code § 38-44-50 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 44 - Managing General Agents Act|Section 38-44-50. Examination and review of managing general agent by insurer; authority to assume insurance contracts or syndicates rests with insurer; notice of entering into or terminating contract with managing general agent; review of agents of insurer to determine if agents have become managing general agents; appointment of managing general agent to board of directors of insurer prohibited.

 (A) The insurer shall file annually with the department not later than June first an annual independent financial examination of each MGA with which it has done business, prepared by a certified public accountant in a form acceptable to the director or his designee.  (B) If a MGA establishes loss reserves, the insurer annually shall obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the MGA. The opinion must be filed not later than March first. This is in addition to other required loss reserve certification.  (C) The insurer at least semiannually by July thirty-first and December thirty-first shall conduct an on-site review of the underwriting and claims processing operations of the MGA.  (D) Binding authority for all assumed reinsurance contracts or participation in insurance or reinsurance syndicates rests with an officer of the insurer who must not be affiliated with the MGA.  (E) Within thirty days of entering into or termination of a contract with a MGA the insurer shall provide written notification of the appointment or termination to the department. Notices of appointment of a MGA must include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and other information the director or his designee may request. If the contract is terminated, notification must be given by the insurer within thirty days of the action to agents or brokers who have placed business with the MGA within the last twelve months.  (F) An insurer shall review its books and records each quarter to determine if an agent, as defined by Section 38-44-20(3), has become, by operation of that section, a MGA. If the insurer determines that an agent has become a MGA, the insurer promptly shall notify the agent and the department of the determination, and the insurer and agent shall comply fully with this chapter within thirty days.  (G) An insurer may not appoint to its board of directors an officer, a director, an employee, an agent, or a broker or a controlling shareholder of its MGAs. This subsection does not apply to relationships governed by the Insurance Holding Company Regulatory Act or, if applicable, Section 38-21-95.  HISTORY: 1992 Act No. 363, Section 1; 1993 Act No. 181, Section 669; 2002 Act No. 228, Section 7, eff May 1, 2002; 2019 Act No. 6 (S.360), Section 6, eff July 1, 2019.  Effect of Amendment  2019 Act No. 6, Section 6, in (A), substituted "not later than June" for "not later than March".
SC Code § 38-44-60 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 44 - Managing General Agents Act|Section 38-44-60. Acts of managing general agent as acts of insurer; managing general agent examined as insurer.

 The acts of the MGA are considered to be the acts of the insurer on whose behalf it is acting. A MGA may be examined as if it were the insurer.  HISTORY: 1992 Act No. 363, Section 1.
SC Code § 38-44-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 44 - Managing General Agents Act|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.

 (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.  HISTORY: 1992 Act No. 363, Section 1; 1993 Act No. 181, Section 670.
SC Code § 38-44-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 44 - Managing General Agents Act|Section 38-44-80. Authority to promulgate regulations

 The department may promulgate reasonable regulations for the implementation and administration of this chapter.  HISTORY: 1992 Act No. 363, Section 1; 1993 Act No. 181, Section 671.
SC Code § 38-45-30 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-30. Requirements for nonresident to be licensed as an insurance broker.

 A nonresident may be licensed as an insurance broker by the director or his designee if the following requirements are met:  (1) filing an application on a form prescribed by the director or his designee;  (2) paying a biennial license fee of two hundred dollars fully earned when received, not refundable;  (3) an aggrieved person may institute an action in the county of his residence against the broker to recover damages. A copy of the summons and complaint in the action must be served on the director, who is not required to be made a party to the action;  (4) paying the department, within thirty days after March thirty-first, June thirtieth, September thirtieth, and December thirty-first each year, the broker's premium tax rate upon premiums for policies of insurers not licensed in this State. In computing total premiums, return premiums on risks and dividends paid or credited to policyholders are excluded. The credit must be refunded to the policyholder.  HISTORY: Former 1976 Code Section 38-45-30 [1947 (45) 322; 1952 Code Section 37-803; 1962 Code Section 37-803] recodified as Section 38-17-30 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-30 [1947 (45) 322; 1952 Code Section 37-203; 1960 (51) 1646; 1962 Code Section 37-203; 1969 (56) 240; 1970 (56) 2497; 1981 Act No. 11, Section 1; 1981 Act No. 44, Section 1]; Section 38-47-40 [1947 (45) 322; 1952 Code Section 37-203.1; 1962 Code Section 37-203.1] recodified as Section 38-45-30 by 1987 Act No. 155, Section 1; 1988 Act No. 314, Section 6; 1989 Act No. 52, Section 4; 1990 Act No. 379, Section 2; 1992 Act No. 501, Part II Section 11K; 1993 Act No. 181, Section 672; 1999 Act No. 30, Section 2; 2000 Act No. 312, Section 10; 2003 Act No. 73, Section 14, eff June 25, 2003; 2008 Act No. 326, Section 13, eff June 16, 2008; 2012 Act No. 283, Section 1, eff January 1, 2012; 2016 Act No. 194 (H.4817), Section 3, eff May 26, 2016.  Effect of Amendment  2016 Act No. 194, Section 3, deleted former (2) and (3), relating to affidavit requirements, and redesignated former (4) through (6) as (2) through (4).
SC Code § 38-45-35 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-35. Applicant's business and residence address required; notice of change of address required.

 When an individual applies for an insurance broker's license, he shall supply the department his business and residence address. The broker shall notify the department within thirty days of any change in these addresses.  HISTORY: 1988 Act No. 327, Section 2; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-40 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-40. Reciprocal agreements as to licensing nonresidents.

 The director or his designee may enter into reciprocal agreements with the insurance commissioners of other states in regard to licensing of nonresident brokers if in his judgment the arrangements or agreements are in the best interest of the State and if the applicant for the license meets the minimum statutory requirements of this State for the issuance of a broker's license. However, the director or his designee may not enter into or continue any reciprocal agreement unless the other state is as liberal as this State in licensing nonresident brokers.  HISTORY: Former 1976 Code Section 38-45-40 [1947 (45) 322; 1952 Code Section 37-804; 1962 Code Section 37-804; 1964 (53) 2054] recodified as Section 38-17-40 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-50 [1957 (50) 534; 1962 Code Section 37-203.2] recodified as Section 38-45-40 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-50 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-50. Duration of broker's license; nonpayment of license fee.

 Each license issued is for an indefinite term unless revoked or suspended. If the biennial license fee of a broker is not paid at the time and in the manner the department provides by regulation, the license must be canceled. If the license is to be reinstated, an original application must be filed and a reinstatement fee equal to the biennial license fee unpaid must be paid in addition to the regular biennial license fee.  HISTORY: Former 1976 Code Section 38-45-50 [1947 (45) 322; 1952 Code Section 37-805; 1962 Code Section 37-805; 1964 (53) 2054] recodified as Section 38-17-50 by 1987 Act No. 155, Section 1; Former 1976 Code Sections 38-1-60 [1979 Act No. 63], and 38-47-90 [1947 (45) 322; 1952 Code Section 37-205; 1962 Code Section 37-205; 1976 Act No. 612 Section 2] recodified as Section 38-45-50 by 1987 Act No. 155, Section 1; 1992 Act No. 501, Part II Section 11L; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-55 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-55. Revenue.

 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.  HISTORY: 2012 Act No. 283, Section 1, eff January 1, 2012.  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.
SC Code § 38-45-60 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-60. Accounting of state portion of broker's premium tax rate payment collected; distribution from earmarked fund.

 (A) As soon after December thirty-first of each year as may be convenient, the director or his designee shall render an accounting to the State Treasurer of the state portion of the broker's premium tax rate payment collected showing the counties in which the risk covered by the insurance is located and shall furnish a duplicate of the accounting to the Comptroller General. The Comptroller General shall draw his warrant on the State Treasurer for one-fourth of the state's portion of the broker's premium tax rate payment collected by the department on property insurance, payable to the county treasurer of the county in which the property is located. The county treasurer shall distribute the broker's premium tax collected on property insurance in accordance with the requirements of Sections 23-9-360 and 23-9-470 and Sections 38-7-70 and 38-7-80.  (B) As soon as practical after December thirty-first, but no later than July first of each year, the department shall distribute from the special earmarked fund, distinct from the general fund, the municipal portion of the broker's premium tax rate payment collected for the prior tax year in accordance with the requirements of Sections 38-45-20(5) and 38-45-30(4). This amount must be paid to the municipal agent with a full accounting, provided by the department, including, but not limited to, the name and address of the broker, and amount of the broker's premium tax rate payment collected from each broker, and showing the counties in which the risk covered by the insurance is located. The municipal agent shall distribute the funds annually to each municipality with which it contracts based on the data submitted by the department.  HISTORY: Former 1976 Code Section 38-45-60 [1947 (45) 322; 1952 Code Section 37-806; 1962 Code Section 37-806] recodified as Section 38-17-60 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-70 [1947 (45) 322; 1952 Code Section 37-207; 1962 Code Section 37-207; 1978 Act No. 585 Section 2; 1981 Act No. 11, Section 2] recodified as Section 38-45-60 by 1987 Act No. 155, Section 1; 1991 Act No. 171, Part II, Section 22J; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.  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.
SC Code § 38-45-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-70. Effect of broker's license; municipal license fees.

 A broker's license entitles the holder to solicit insurance in any county of this State. However, municipalities may impose license fees in accordance with this title.  HISTORY: Former 1976 Code Section 38-45-70 [1947 (45) 322; 1952 Code Section 37-807; 1962 Code Section 37-807] recodified as Section 38-17-70 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-80 [1947 (45) 322; 1952 Code Section 37-208; 1962 Code Section 37-208] recodified as Section 38-45-70 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-80. Brokers to keep records of business done, furnish to director for inspection.

 All brokers doing any kind of insurance business in this State shall make and keep a full and correct record of the business done by them, showing the number, date, term, amount insured, premiums, and the person to whom issued of every policy or certificate of renewal. The information from these records must be furnished to the director or his designee on demand and the original books or records are open to the inspection of the director or his designee on demand. These records must be kept for a minimum of five years. The director or his designee also may conduct examinations of broker records. Examinations must be conducted in accordance with the requirements of Chapter 13 of this title. The broker is responsible for the costs of any examination.  HISTORY: Former 1976 Code Section 38-45-80 [1947 (45) 322; 1952 Code Section 37-808; 1962 Code Section 37-808] recodified as Section 38-17-80 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1210 [1947 (45) 322; 1952 Code Section 37-290; 1962 Code Section 37-290] recodified as Section 38-45-80 by 1987 Act No. 155, Section 1; 1988 Act No. 357, Section 5; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-100 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-100. Brokers may divide commissions.

 A licensed insurance broker may divide commissions with producers or brokers in other states or with a producer licensed in this State for an insurer doing the particular class of insurance desired to be placed through the broker.  HISTORY: Former 1976 Code Section 38-45-100 [1947 (45) 322; 1952 Code Section 37-810; 1962 Code Section 37-810; 1964 (53) 2054] recodified as Section 38-17-100 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-110 [1947 (45) 322; 1952 Code Section 37-211; 1962 Code Section 37-211] recodified as Section 38-45-100 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-110 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-110. Warning stamped on policies of eligible surplus lines insurer.

 The broker shall write or stamp upon the face of each policy of an eligible surplus lines insurer the words, "This company has been approved by the director or his designee of the South Carolina Department of Insurance to write business in this State as an eligible surplus lines insurer, but it is not afforded guaranty fund protection".  HISTORY: Former 1976 Code Section 38-45-110 [1947 (45) 322; 1952 Code Section 37-811; 1962 Code Section 37-811] recodified as Section 38-17-110 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-130 [1947 (45) 322; 1952 Code Section 37-210; 1962 Code Section 37-210; 1981 Act No. 131, Section 1] recodified as Section 38-45-110 by 1987 Act No. 155, Section 1; 1988 Act No. 314, Section 8; 1993 Act No. 181, Section 672; 1998 Act No. 260, Section 1; 2000 Act No. 312, Section 11; 2002 Act No. 228, Section 8, eff May 1, 2002; 2012 Act No. 283, Section 1, eff January 1, 2012; 2016 Act No. 194 (H.4817), Section 4, eff May 26, 2016.  Effect of Amendment  2016 Act No. 194, Section 4, deleted "and application" following "each policy".
SC Code § 38-45-120 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-120. Personal liability of broker on policy of unlicensed insurer.

 Every insurance broker who sells an insurance policy written or issued by an insurer not licensed to do business in this State is personally liable for the limits of the coverage provided for in the policy if the broker fails to comply with the provisions of this title relating to policies issued by insurers not licensed to do business in this State.  HISTORY: Former 1976 Code Section 38-45-120 [1947 (45) 322; 1952 Code Section 37-812; 1962 Code Section 37-812] recodified as Section 38-17-120 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-140 [1960 (51) 1630; 1962 Code Section 37-210.1] recodified as Section 38-45-120 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-130 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-130. Adjustment of losses; inspections and endorsements.

 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.  HISTORY: Former 1976 Code Section 38-45-130 [1947 (45) 322; 1952 Code Section 37-813; 1962 Code Section 37-813] recodified as Section 38-17-130 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-120 [1947 (45) 322; 1952 Code Section 37-212; 1962 Code Section 37-212] recodified as Section 38-45-130 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-140 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-140. Revocation of license of broker.

 When the director or his designee determines after investigation that a broker has violated this title, he may, upon ten days' notice, impose the penalties provided in Section 38-2-10.  HISTORY: Former 1976 Code Section 38-45-140 [1947 (45) 322; 1952 Code Section 37-814; 1962 Code Section 37-814] recodified as Section 38-17-140 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-150 [1947 (45) 322; 1952 Code Section 37-204; 1962 Code Section 37-204] recodified as Section 38-45-140 by 1987 Act No. 155, Section 1; 1988 Act No. 374, Section 19; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-150 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-150. Penalties.

 Any person violating this chapter is guilty of a misdemeanor. Each risk written in violation of this chapter is considered a separate offense.  HISTORY: Former 1976 Code Section 38-45-150 [1947 (45) 322; 1952 Code Section 37-815; 1962 Code Section 37-815] recodified as Section 38-17-150 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-160 [1947 (45) 322; 1949 (46) 600; 1952 Code Section 37-213; 1962 Code Section 37-213] recodified as Section 38-45-150 by 1987 Act No. 155, Section 1; 1988 Act No. 374, Section 20; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-160 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-160. Brokers policy fees.

 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.  HISTORY: Former 1976 Code Section 38-45-160 [1947 (45) 322; 1952 Code Section 37-816; 1962 Code Section 37-816; 1971 (57) 709; 1976 Code Section 38-45-160; 1980 Act No. 306, Section 3] recodified as Section 38-17-160 by 1987 Act No. 155, Section 1; New Section 38-45-160 enacted by 1988 Act No. 314, Section 9; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
SC Code § 38-45-170 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 45 - Insurance Brokers And Surplus Lines Insurance|Section 38-45-170. Appointment of director as attorney for service of legal process, for eligible surplus lines insurers.

 Before the director or his designee approves a nonadmitted insurer as an eligible surplus lines insurer, the insurer shall appoint in writing the director and his successors in office to be its true and lawful attorney upon whom all legal process in any action or proceeding against it must be served and in this writing shall agree that any lawful process against it which is served upon this attorney is of the same legal force and validity as if served upon the insurer and that the authority continues in force so long as any liability remains outstanding in the State. Copies of the appointment, certified by the director, are sufficient evidence of the appointment and must be admitted in evidence with the same force and effect as the original might be admitted.  HISTORY: Former 1976 Code Section 38-45-170 [1947 (45) 322; 1952 Code Section 37-817; 1962 Code Section 37-817] recodified as Section 38-17-170 by 1987 Act No. 155, Section 1; New Section 38-45-170 enacted by 1988 Act No. 314, Section 10; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.