reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-220. Certificates and papers of director as evidence.

Every certificate or other paper executed by the director or his designee in pursuance of any authority conferred upon him by law and sealed with the seal of the department and all copies of papers certified by the director or his designee and authenticated by the director's or his designee's seal may in all cases be used as evidence in any suit or proceeding in any court of this State with the same force and effect as the originals.
HISTORY: Former 1976 Code Section 38-3-220 [1947 (45) 322; 1952 Code Section 37-64; 1960 (51) 1646; 1962 Code Section 37-71] recodified as Section 38-3-210 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-3-270 [1947 (45) 322; 1952 Code Section 37-69; 1960 (51) 1646; 1962 Code Section 37-76] recodified as Section 38-3-220 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 532.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-230. Director's certificate as evidence of authority to do business.

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.
HISTORY: Former 1976 Code Section 38-3-230 [1947 (45) 322; 1952 Code Section 37-65; 1960 (51) 1646; 1962 Code Section 37-72] recodified as Section 38-3-210 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-3-280 [1947 (45) 322; 1952 Code Section 37-70; 1960 (51) 1646; 1962 Code Section 37-77] recodified as Section 38-3-230 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 532.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-240. Conversion of licenses to biennial fee collection period; particular fee periods.

(A) Beginning July 1, 1992, the department shall begin converting certain licenses required by statute or regulation to a biennial license fee collection period. These license fees must be collected as follows:
(1) All insurers transacting business in this State including reciprocals, fraternal benefit associations, mutual insurers doing a property business only in no more than three counties, mutual insurers doing a property business only in a single county, and approved reinsurers shall pay a license fee for two years to the department by March 1, 1994, and every two years after that time by March first every even-numbered year.
(2) An agency transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after January 1, 1994, and every two years after that time within thirty days after January first every even-numbered year.
(3) A broker transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after May 1, 1994, and every two years after that time within thirty days after May first every even-numbered year.
(4) An adjuster transacting business in this State shall pay a license fee for two years to the department within thirty days after August 1, 1993, and every two years after that time within thirty days after August first every odd-numbered year.
(5) A motor vehicle damage appraiser transacting business in this State shall pay a license fee for two years to the department within thirty days after October 1, 1993, and every two years after that time within thirty days after October first every odd-numbered year.
(6) An agent transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after September 1, 1992, and every two years after that time within thirty days after September first every even-numbered year.
(B) The fees described in this section must be earned fully when paid and are not refundable, proratable, or transferable. They must be collected in the amount and manner prescribed by statute or regulation before July 1, 1992, until the dates prescribed in subsection (A) when collections must be made pursuant to that subsection.
HISTORY: 1992 Act No. 501, Part II Section 11A; 1993 Act No. 181, Section 532; 1998 Act No. 411, Section 1.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-410. Promulgation of emergency regulations on declaration of state of emergency.

(A) If the Governor declares a state of emergency pursuant to Section 1-3-420, the director may issue one or more emergency regulations pursuant to Section 1-23-130(A) applicable to all insurance companies, entities, and persons, as defined in Section 38-1-20, that are subject to Title 38.
(B)(1) The provisions of Section 1-23-130(A), (B), and (D) are applicable to emergency regulations promulgated under this section.
(2) The provisions of Section 1-23-130(C) are not applicable to emergency regulations promulgated under this section. An emergency regulation promulgated under this section becomes effective upon issuance and continues for one hundred twenty days unless terminated sooner by the director. The director may extend an emergency regulation for additional periods of one hundred twenty days, whether or not the General Assembly is in session, for as long as he determines that the conditions that gave rise to the emergency regulation still exist. Each extension of the emergency regulation must be published in the State Register as provided in Section 1-23-130(D). By concurrent resolution, the General Assembly may terminate an emergency regulation issued under this section.
(C) The text of an emergency regulation promulgated under this section together with a statement explaining how the emergency regulation facilitates recovery from the emergency must be published in the State Register as provided in Section 1-23-130(D).
HISTORY: 2007 Act No. 78, Section 4.B, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-420. Adoption of procedures to facilitate recovery by way of emergency regulations.

(A) By an emergency regulation issued pursuant to Section 38-3-410, the director may adopt any procedure that facilitates recovery from the emergency and is fair under the circumstances if the:
(1) procedure provides at least the procedural protection given by other statutes, the Constitution of this State, or the United States Constitution;
(2) department takes only that action necessary to protect the public interest under the emergency procedure; and
(3) department publishes in writing, at the time of or before its action, the specific facts and reasons for finding an immediate danger to the public health, safety, or welfare and its reasons for concluding that the procedure used is fair under the circumstances.
(B) Subject to applicable constitutional and statutory provisions, an emergency regulation becomes effective immediately on filing. After notice of the emergency regulation is published in the State Register as provided in Section 1-23-130(D) and Section 38-3-410, then the department's findings of immediate danger, necessity, and procedural fairness are judicially reviewable under Section 38-3-210.
HISTORY: 2007 Act No. 78, Section 4.B, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-430. Promulgation of standardized requirements applicable to insurers by emergency regulation; areas to be addressed; issuance of orders following natural disaster.

(A) The department may promulgate by emergency regulation, pursuant to Section 38-3-410, standardized requirements that may be applied to insurers as a consequence of a hurricane or other natural disaster. The emergency regulations must address the following areas:
(1) claims reporting requirements;
(2) grace periods for payment of premiums and performance of other duties by insureds;
(3) temporary postponement of cancellations and nonrenewals; and
(4) any other rule the director considers necessary.
(B) The emergency regulations adopted under this section shall require the department to issue an order within ten days after the occurrence of a hurricane or other natural disaster specifying, by line of insurance, which of the standardized requirements apply, the geographic areas in which they apply, the time at which applicability commences, and the time at which applicability terminates. An order issued pursuant to this subsection must comply with the requirements of Section 1-23-140.
HISTORY: 2007 Act No. 78, Section 4.B, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 3 - The Department Of Insurance › Section 38-3-440. Promulgation of regulations to implement article.

The department may promulgate the regulations pursuant to the South Carolina Administrative Procedures Act, Chapter 23 of Title 1, necessary to implement the provisions of this article.
HISTORY: 2007 Act No. 78, Section 4.B, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-10. Insurers must be licensed and supervised; exceptions.

Every insurer doing business in this State must be licensed and supervised by the director or his designee, with the following exceptions:
(a) Without excluding other activities which may not constitute doing business in this State, a foreign or alien insurer is not considered to be doing business in this State, for purposes of this chapter, or Chapter 7, 13, 25, or 27, solely by reason of carrying on in this State any one or more of the following activities:
(1) Maintaining bank accounts.
(2) Creating or acquiring evidences of debt, mortgages, or liens on real or personal property, and enforcing rights in connection therewith in any action or proceeding, whether judicial, administrative, or otherwise.
(3) Owning and controlling a subsidiary corporation incorporated in or transacting business within this State.
(b) [Reserved]
HISTORY: 1947 (45) 322; 1952 Code Section 37-101; 1962 Code Section 37-101; 1964 (53) 1796; 1976 Code Section 38-5-10; 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-20. Certain charitable, religious, and other corporations authorized to issue annuities or pay lump-sum benefits without being subject to insurance laws.

A charitable, religious, benevolent, or educational corporation, not operating for profit and in active operation for at least five years, may receive transfers of property conditioned upon its agreement to pay an annuity or lump-sum benefit to the transferor or his nominee without being subject to the insurance laws of this State. No corporation operating for profit, including nursing homes or any other type of business, is permitted to issue charitable or gift annuities without the director's or his designee's approval.
HISTORY: Former 1976 Code Section 38-5-20 [1962 Code Section 37-109; 1964 (53) 2051; 1968 (55) 2497; 1979 Act No. 40, Section 1; 1979 Act No. 120, Section 1] recodified as Sections 38-1-20, 38-5-30, and 38-75-510 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-1-40 [1962 Code Section 37-4; 1967 (55) 399; 1981 Act No. 182] recodified as Section 38-5-20 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-30. Kinds of insurance for which an insurer may be licensed.

The director or his designee may license insurers, subject to other requirements of existing insurance laws, to transact the following kinds of insurance in this State:
(a) life insurance and annuities;
(b) accident and health insurance;
(c) property insurance;
(d) casualty insurance;
(e) surety insurance;
(f) marine insurance;
(g) title insurance;
(h) multiple lines insurance, meaning any two or more of the kinds of insurance listed in items (b), (c), (d), (e), and (f).
Each license issued is for an indefinite term unless revoked or suspended.
HISTORY: Former 1976 Code Section 38-5-30 [1962 Code Section 37-109.1; 1964 (53) 2051] recodified as Section 38-5-40 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-20 [1962 Code Section 37-109; 1964 (53) 2051; 1968 (55) 2407; 1979 Act No. 40, Section 1] and former Section 38-5-210 [1986 Act No. 540, Part II, Section 31 (H)] recodified as Section 38-5-30 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533; 2002 Act No. 228, Section 2, eff May 1, 2002.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-40. Kinds of insurance for which life insurer may be licensed.

No life insurer may be licensed to write any other kinds of insurance listed in Section 38-5-30 except accident and health insurance. However, any life insurer licensed to transact other kinds of insurance immediately prior to March 18, 1964, shall continue to be so licensed if otherwise qualified.
HISTORY: Former 1976 Code Section 38-5-40 [1962 Code Section 37-109.2; 1964 (53) 2051] recodified as Section 38-5-50 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-30 [1962 Code Section 37-109.1; 1964 (53) 2051] recodified as Section 38-5-40 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-50. Certain insurers may not be licensed to write life insurance.

No insurer licensed to write any of the kinds of insurance listed in items (c), (d), (e), (f), (g), and (h) of Section 38-5-30 may be licensed to write life insurance. However, any life insurer licensed to transact other kinds of insurance immediately prior to March 18, 1964, shall continue to be so licensed if otherwise qualified.
HISTORY: Former 1976 Code Section 38-5-50 [1947 (45) 322; 1952 Code Section 37-102; 1962 Code Section 37-102] recodified as Section 38-5-80 and Section 38-5-90 by 1987 Act No. 155 Section 1; Former 1976 Code Section 38-5-40 [1962 Code Section 37-109.2; 1964 (53) 2051] recodified as Section 38-5-50 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-60. Qualifications to become an approved reinsurer.

For purposes of calculating deductions for reserves, insurers not licensed in this State may be approved as reinsurers by the director or his designee for an indefinite term only if:
(1) Upon initial application a fee of four hundred dollars is enclosed, and, every two years after that time, a fee of four hundred dollars is paid by March first.
(2) There is filed with the department a power of attorney approved as to form by the director or his designee and authorizing the director to accept service of process in behalf of the reinsurer.
(3) There is filed with the department the reinsurer's annual statement and the reinsurer's most recent report of examination, and after that time each annual statement and report of examination is filed.
(4) The reinsurer meets the capital and surplus requirements of South Carolina law with respect to the lines to be reinsured.
HISTORY: Former 1976 Code Section 38-5-60 [1947 (45) 322; 1952 Code Section 37-103; 1962 Code Section 37-103] recodified as Section 38-5-80 and Section 38-5-90 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-770 [1947 (45) 322; 1948 (45) 1734; 1949 (46) 600; 1958 (50) 1608; 1960 (51) 1554; 1962 Code Section 37-188; 1964 (53) 1835; 1964 (53) 1835; 1969 (56) 210; 1975 (59) 182; 1978 Act No. 601; 1979 Act No. 18; 1982 Act No. 373] recodified as Section 38-5-60 by 1987 Act No. 155, Section 1; 1992 Act No. 501, Part II Section 11C; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-70. Appointment of director as attorney for service of process.

Every insurer shall, before being licensed, 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 38-5-70 [1952 Code Section 37-104; 1947 (45) 322; 1962 Code Section 37-104] recodified as Section 38-5-80 and Section 38-5-90 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-80 [1947 (45) 322; 1952 Code Section 37-105; 1962 Code Section 37-105] recodified as Section 38-5-70 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-90. Additional requirements for issuance of certificate or license to foreign or alien insurer; grounds for revocation or suspension of license.

Before granting the original certificate of authority or license to a foreign or alien insurer to do business in this State, the director or his designee must be satisfied by proper evidence that:
(a) The insurer is duly qualified to transact business under the laws of this State.
(b) The insurer has filed with him an affidavit of its president or other chief officer that it has not violated this title in the past year and that it accepts the terms and obligations of this title as part of the consideration for license.
(c) The insurer pays all taxes and performs all duties required by law.
(d) The reserves of the insurer are adequate for the protection of policyholders of this State.
(e) The insurer's directors and officers are competent, trustworthy, and have a good business reputation.
(f) The insurer has employed one or more persons with adequate experience and training to manage properly its business and affairs relating to its policies in South Carolina.
(g) The insurer has not entered into any management contract, agency agreement, or other agreement which may materially affect its financial condition so as to render its proceedings hazardous to the public or to its policyholders.
(h) The insurer has made adequate reinsurance arrangements if required.
(i) The insurer's proposed method of operation, when considered in light of its financial condition and the absence of any prior operating experience, will not likely render its proceedings hazardous to the public or to its policyholders.
(j) The insurer is safe and solvent.
(k) The insurer's dealings are fair and equitable.
(l) The insurer conducts its business in a manner not contrary to the public interest.
If subsequently the director or his designee is of the opinion that a condition exists which would have prohibited him from issuing a certificate of authority or license to the insurer, then that condition also constitutes a ground for license revocation under Section 38-5-120.
HISTORY: Former 1976 Code Section 38-5-90 [1947 (45) 322; 1952 Code Section 37-106; 1962 Code Section 37-106, recodified as Section 38-5-80 and Section 38-5-90 by 1987 Act No. 155, Section 1; Former 1976 Code Sections 38-5-50 [1947 (45) 322; 1952 Code Section 37-102; 1962 Code Section 37-102], 38-5-60 [1947 (45) 322; 1952 Code Section 37-103; 1962 Code Section 37-103], 38-5-70 [1947 (45) 322; 1952 Code Section 37-104; 1962 Code Section 37-104], 38-5-90 [1947 (45) 322; 1952 Code Section 37-106; 1962 Code Section 37-106], 38-5-110 [1947 (45) 322; 1952 Code Section 37-107; 1962 Code Section 37-107], and 38-5-120 [1962 Code Section 37-107.1; 1971 (57) 131] recodified as Section 38-5-90 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533; 2000 Act No. 312, Section 2.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-100. Foreign or alien insurers with names identical with or similar to others not qualified.

No foreign or alien insurer may be licensed to do business in this State when its name is identical with that of any active insurer previously licensed to do business in this State which has engaged in business therein for one year or more. No foreign or alien insurer may be licensed to do business in this State when its name is so nearly similar to that of any active insurer previously licensed to do business in this State which has engaged in business therein for one year or more so as to lead to confusion and uncertainty.
HISTORY: Former 1976 Code Section 38-5-100 [1962 Code Section 37-106.1; 1971 (57) 314] recodified as Section 38-5-80 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-130 [1947 (45) 322; 1952 Code Section 37-108; 1962 Code Section 37-108] recodified as Section 38-5-100 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-110. Approval of charters or amendments of charter.

It is unlawful for the Secretary of State to issue any charter or grant any amendments of charter to any insurer or permit any foreign or alien insurer to do business within this State without the written approval of the director or his designee.
HISTORY: Former 1976 Section 38-5-110 [1947 (45) 322; 1952 Code Section 37-107; 1962 Code Section 37-107] recodified as Section 38-5-90 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-140 [1947 (45) 322; 1952 Code Section 37-110; 1957 (50) 92; 1962 Code Section 37-110] recodified as Section 38-5-110 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-130. Monetary penalty in lieu of license revocation or suspension.

The director or his designee may, in lieu of license revocation or suspension as provided by Section 38-5-120, impose a monetary penalty as provided in Section 38-2-10 for each violation or failure of compliance or refusal to submit or perform as prescribed therein. Series of acts by an insurer which merely implement a basic violation and are not separate and distinct violations of an independent nature are considered to be part of the basic violation and only one penalty may be imposed thereon.
HISTORY: Former 1976 Code Section 38-5-130 [1947 (45) 322; 1952 Code Section 37-108; 1962 Code Section 37-108] recodified as 38-5-100 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-165 [1962 Code 37-112.1; 1977 Act No. 61] recodified as Section 38-5-130 by 1987 Act No. 155, Section 1; 1988 Act No. 374, Section 4; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-140. Opportunity for hearing.

Unless the grounds for revocation relate only to the financial condition or soundness of the insurer or to a deficiency in its assets, the director or his designee shall notify the insurer not less than thirty days before revoking its authority to do business in this State and he must specify in the notice the particulars of the alleged violation of the law or its charter or grounds for revocation and a proper opportunity must be offered the insurer to be heard.
HISTORY: Former 1976 Code Section 38-5-140 [1947 (45) 322; 1952 Code Section 37-110; 1957 (50) 92; 1962 Code Section 37-110] recodified as Section 38-5-110 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-170 [1947 (45) 322; 1952 Code Section 37-113; 1962 Code Section 37-113] recodified as Section 38-5-140 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-150. Funds may not be paid during suspension without approval.

While the certificate of authority is suspended, no domestic insurer or any of its officers may pay out any funds belonging to the insurer without first receiving the director's or his designee's approval.
HISTORY: Former 1976 Code Section 38-5-150 [1947 (45) 322; 1952 Code Section 37-111; 1962 Code Section 37-111] has no comparable provisions in 1987 Act No. 155; Former 1976 Code Section 38-5-180 [1947 (45) 322; 1952 Code Section 37-114; 1962 Code Section 37-114] recodified as Section 38-5-150 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-160. Injunction, receivership.

If he considers it necessary, the director or his designee may apply to a judge of the circuit court to issue an injunction restraining a domestic insurer whose certificate of authority has been suspended, in whole or in part, from proceeding further with its business. The judge may immediately issue the injunction and, upon notice and after a full hearing of the matter, may (a) dissolve or modify the injunction or make it permanent, (b) make all orders and judgments necessary in the matter, and (c) appoint agents or a receiver to take possession of the property and effects of the insurer and to settle its affairs, subject to any rules and orders the court prescribes.
HISTORY: Former 1976 Code Section 38-5-160 [1947 (45) 322; 1952 Code Section 37-112; 1962 Code Section 37-112] recodified as Section 38-5-120 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-190 [1947 (45) 322; 1952 Code Section 37-115; 1962 Code Section 37-115] recodified as Section 38-5-160 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-170. Continuation of certificate of authority and other approvals pertaining to foreign insurer transferring its corporate domicile by merger or consolidation.

The certificate of authority, agents' appointments and licenses, rates, and other items which the director or his designee may allow which are in existence at the time any insurer licensed to transact the business of insurance in this State transfers its corporate domicile to this or any other state by merger, consolidation, or any other lawful method shall continue in effect upon such transfer if the insurer remains duly qualified to transact the business of insurance in this State. All outstanding policies of any transferring insurer shall remain in effect and need not be endorsed as to the new name of the company or its new location unless so ordered by the director or his designee. Every transferring insurer shall file new policy forms with the department on or before the effective date of the transfer but may use existing policy forms with appropriate endorsements if allowed by, and under conditions as approved by, the director or his designee. Every transferring insurer shall notify the director or his designee of the details of the proposed transfer and shall file promptly any resulting amendments to corporate documents filed or required to be filed with the department.
HISTORY: Former 1976 Code Section 38-5-170 [1947 (45) 322; 1952 Code Section 37-113; 1962 Code Section 37-113] recodified as Section 38-5-140 by 1987 Act No. 155, Section 1; New Section 38-5-170 enacted by 1987 Act No. 8, Section 1; 1993 Act No. 181, Section 533.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-180. Authority required for insurer to operate in State.

No insurer may operate from a location within South Carolina unless it is licensed as an insurer as provided in Section 38-5-10, or permitted to operate as an approved reinsurer as provided in Section 38-5-60, or qualified to operate as an eligible surplus lines insurer as provided in Section 38-45-90.
HISTORY: 1994 Act No. 372, Section 2.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-190. Copy and reproduction of records; effect and admissibility into evidence of printed reproduction.

Any member of South Carolina Property and Casualty Insurance Guaranty Association or South Carolina Life and Accident and Health Guaranty Association, any eligible surplus lines insurer, any insurance premium service company, any authorized reinsurer, any title insurance company, any licensed adjuster, any licensed insurance agent, any licensed insurance broker, any insurance rating or statistical agent, South Carolina Reinsurance Facility, South Carolina Wind and Hail Underwriting Association, South Carolina Property and Casualty Insurance Guaranty Association, South Carolina Health Insurance Pool, South Carolina Commercial Auto Insurance Plan, South Carolina Medical Malpractice Joint Underwriting Association, South Carolina Workers' Compensation Commission, Second Injury Fund, South Carolina Department of Insurance, or South Carolina State Fiscal Accountability Authority Insurance Reserve Fund may cause records relating to policy applications, changes, refunds, terminations, claims, or premium payments kept by the insurer, premium service company, adjuster, agent, or broker to be copied or reproduced by:
(1) photostatic, photographic, or microfilming process; or
(2) electronic or graphic imaging through scanning, digitizing, or other means.
These processes or means must correctly copy, reproduce, or form a medium for copying or reproducing the original record so that an accurate facsimile of the original can be printed or otherwise reproduced on paper, film, or similar medium. The printed reproduction must be considered an original record for all purposes and must be treated as an original record in all courts or administrative agencies for the purpose of its admissibility into evidence, regardless of whether the institution retains or disposes of the original; provided, that:
(a) the original document otherwise qualifies as a business record pursuant to the South Carolina Uniform Business Records as Evidence Act or the appropriate state or federal rules of evidence; and
(b) a custodian or other qualified witness, as those terms are used in the appropriate state or federal rules of evidence, certifies that the printed reproduction is a true and correct copy of the original.
The Director of the Department of Insurance may, by order, apply the provisions of this section to any additional insurance or insurance-related organizations or entities or insurance or insurance-related records, as the director in his discretion considers necessary.
HISTORY: 1996 Act No. 397, Section 1.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, Section 5(D)(1), effective July 1, 2015.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 5 - Authority And Requirements To Transact Business › Section 38-5-200. Required use of particular insurance premium finance company or other installment plan prohibited; other prohibited acts.

(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.
HISTORY: 1997 Act No. 154, Section 24.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-10. License fees for insurers.

(A) Every insurer, except mutual benevolent aid associations and fraternal benefit associations, before transacting business in this State shall pay a license fee of eight hundred dollars to the department and after that initial payment pay to the department a biennial license fee of eight hundred dollars by March first every other year.
(B) In addition to the license fees required in subsection (A), the director or his designee shall collect from each insurer licensed by him to do business in this State a license fee of four hundred dollars for each kind of insurance for which the insurer is licensed as listed in Section 38-5-30(a) through (g). Each mutual insurer doing a property business only in no more than three counties shall pay a biennial fixed license fee of one hundred dollars and each mutual insurer doing a property business only in a single county shall pay a biennial fixed license fee of forty dollars. The license fees required in this subsection must be paid to the director or his designee before the insurer transacts business in this State and after that initial payment must be paid biennially to the director or his designee by March first every two years.
HISTORY: Former 1976 Code Section 38-7-10 [1960 (51) 1554; 1962 Code Section 37-171; 1982 Act No. 403, Section 1] recodified as Section 38-63-510 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-510 [1986 Act No. 540, Part II, Section 31A] recodified as Section 38-7-10 by 1987 Act No. 155, Section 1; 1992 Act No. 501, Part II Section 11B; 1993 Act No. 181, Section 534.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-30. Tax on fire insurers to cover expenses of inspections and investigations; annual report.

Any expenses, including expenses of counsel, detectives, and officers, incurred by the discrimination in rates, must be defrayed by the fire insurance companies doing business in this State, and a tax of one percent on the gross premium receipts less premiums returned on canceled policy contracts and less dividends and returns of unabsorbed premium deposits of all fire insurance companies is levied for this purpose, to be collected by the director or his designee as other taxes on fire insurance companies are collected. The director or his designee shall keep a separate account of all monies received and disbursed under the provisions of this section and shall include the account in his annual report. Fifty percent of the one percent tax levied in this section must be directed to the Division of Fire and Life Safety of the Department of Labor, Licensing and Regulation to be used only for expenses of this division. For fiscal year 1997-98 only, the fifty percent of the tax levied by this section that is directed to the Department of Labor, Licensing and Regulation is capped at $2,567,325. The department shall report annually to the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee where any growth above the base authorization for the preceding is expended and for what purposes within the Division of Fire and Life Safety.
HISTORY: Former 1976 Code Section 38-7-30 [1960 (51) 1554; 1962 Code Section 37-173; 1982 Act No. 403, Section 3] recodified as Section 38-63-530 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1250 [1947 (45) 322; 1952 Code Section 37-288; 1960 (51) 1562, 1646; 1962 Code Section 37-288] recodified as Section 38-7-30 by 1987 Act No. 155, Section 1; 1987 Act No. 170, Part II, Section 17 (amendment to former 1976 Code Section 38-5-1250 transferred to Section 38-7-30 by 1987 Act No. 155, Section 24]; 1993 Act No. 181, Section 534, Part II; 1997 Act No. 155, Part II, Section 3A.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-35. Portion of tax on fire insurers to be used for training, certification, and continuing education program for building codes enforcement officers; annual report.

(A) One hundred seventy-five thousand dollars of the revenue collected annually pursuant to Section 38-7-30 must be transferred to the Department of Labor, Licensing and Regulation for the purpose of implementing the training, certification, and continuing education program for building codes enforcement officers as provided by law.
(B) The Department of Labor, Licensing and Regulation shall report annually to the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee detailing actual program expenditures including, but not limited to, the number of instructors employed, the number of training sessions conducted, and the number of certifications issued. This report must be submitted to the respective chairmen no later than July fifteenth of each year.
(C) One hundred thousand dollars of the revenue collected annually pursuant to Section 38-7-30 must be transferred to the Department of Insurance for the purpose of implementing the program as provided in Section 38-75-480.
(D) Subsection (C) of this section ceases to be of any force or effect after June 30, 2002.
HISTORY: 1997 Act No. 123, Section 4; 1997 Act No. 155, Part II, Section 29; 2000 Act No. 312, Section 3.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-40. Additional premium tax on fire insurers.

Each fire insurer shall pay to the director or his designee an amount equal to one percent of all premiums written on fire insurance required to be reported under Section 38-7-70 during the preceding year ending December thirty-first or for such portion of that period as the insurer has done business in this State.
HISTORY: Former 1976 Code Section 38-7-40 [1960 (51) 1554; 1962 Code Section 37-174] recodified as Section 38-63-540 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-57-120 [1947 (45) 322; 1952 Code Section 37-1160; 1962 Code Section 37-1160; 1978 Act No. 585, Section 11] recodified as Section 38-7-40 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 534.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-50. Tax on workers' compensation insurers.

Every insurer insuring employers in this State against liability for personal injuries to their employees or death caused by the injuries, under the provisions of Title 42, shall pay a tax upon the premiums received whether in cash or notes in this State, or on account of business done in this State, for such insurance in this State at the rate of four and one-half percent of the amount of the premiums. For fiscal year 1990-91, the tax is at the rate of three and one-half percent of the amount of the premiums. For fiscal year 1991-92 and thereafter, the tax is at the rate of two and one-half percent of the amount of the premiums. This tax is in lieu of all other taxes on these premiums and must be assessed and collected as provided in this chapter. However, the insurers must be credited with all canceled or returned premiums actually refunded during the year on workers' compensation insurance including any unused premiums refunded or credited to policyholders as dividends.
If an insurer fails or refuses to make the return required by Section 38-7-60, the director or his designee shall assess the tax against the insurer at the rate provided for in this chapter on the amount of premiums he considers just and the proceedings thereon must be the same as if the return had been made.
HISTORY: Former 1976 Code Section 38-7-50 [1960 (51) 1554; 1962 Code Section 37-175] recodified as Section 38-63-550 by 1987 Act No. 155, Section 1; Former 1976 Code Sections 42-5-140 [1936 (39) 1231; 1937 (4) 613; 1942 Code Section 7035-76; 1952 Code Section 72-414; 1962 Code Section 72-414] and Section 42-5-160 [1936 (39) 1231; 1937 (40) 613; 1942 Code Section 7035-76; 1952 Code Section 72-416; 1960 (51) 1946; 1962 Code Section 72-416] recodified as Section 38-7-50 by 1987 Act No. 155, Section 1; 1989 Act No. 100, Section 1; 1993 Act No. 181, Section 534.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-70. Annual reports of premiums of fire insurers; allocation.

Each fire insurer carrying on business in this State shall annually return to the director or his designee by March first a just and true account, verified by oath, of all premiums received during the preceding year ending December thirty-first from all fire insurance on all property located or that may be located in this State and from all fire insurance business done in this State. In the report the insurer shall allocate the premiums on this business to the county in which the property is located, regardless of where the insurance is written or premiums collected.
HISTORY: Former 1976 Code Section 38-7-70 [1960 (51) 1554; 1962 Code Section 37-175.2; 1964 (53) 2139; 1982 Act No. 403, Section 4] recodified as Section 38-63-570 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-57-110 [1947 (45) 322; 1952 Code Section 37-1159; 1962 Code Section 37-1159; 1978 Act No. 585 Section 10; 1986 Act No. 540, Part II, Section 31F] recodified as Section 38-7-70 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 534.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-80. Records to be kept; fraudulent returns; failure to keep records or reports or pay funds due.

Every fire insurer shall keep accurate books of account of all business done by it on fire insurance required to be reported under the provisions of Section 38-7-70. If it is apparent the return is fraudulent or dishonest, the director or his designee shall investigate the return and collect the amount he finds due.
Every fire insurer which neglects to keep books of account as required by this section, neglects or fails to report or pay any of the money due on premiums as required by Section 38-7-40 or 38-7-70, or is found upon examination to have made a false return of business done by it shall for each offense be subject to the penalty provisions of Section 38-2-10, to be applied to the purposes prescribed in Section 23-9-410.
HISTORY: Former 1976 Code Section 38-7-80 [1960 (51) 1554; 1962 Code Section 37-175.3; 1964 (53) 2139; 1976 Act No. 452 Section 1; 1978 Act No. 577 Section 1; 1982 Act No. 403, Section 5] recodified as Section 38-63-580 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-57-130 [1947 (45) 322; 1952 Code Section 37-1161; 1962 Code Section 37-1161; 1978 Act No. 585 Section 13] and Section 38-57-140 [1947 (45) 322; 1952 Code Section 37-1162; 1962 Code Section 37-1162] recodified as Section 38-7-80 by 1987 Act No. 155, Section 1; 1988 Act No. 374, Section 5; 1993 Act No. 181, Section 534.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-90. Retaliatory taxes, penalties, interest, and fees.

(A) When the laws of any other state or the regulations or actions of any public official of another state subject, or would subject, insurance companies chartered by this State, or their agents or representatives, to fees, taxes, obligations, conditions, restrictions, or penalties for the privilege of doing business in that state which are greater than those required by this State of similar insurers organized or domiciled in the other state by or in this State for the privilege of doing business herein, then all similar insurers organized or domiciled in that state are subjected to the greater requirements which are or would be imposed by or in that state upon similar insurers of this State.
(B) This section must be applied, regardless of whether an insurer chartered by this State is doing business in the other state. The application of this section is based upon a comparison of the aggregate requirements imposed by this State with the aggregate requirements imposed by the other state. Taxes, fees, or other obligations imposed by municipalities are considered in the application of this section.
(C) This section is effective for all insurance premiums collected after December 31, 1989, and to all insurance premium tax returns filed beginning with the quarterly return due September 1, 1990, and all quarterly and annual returns filed after that time.
(D) Title insurers only may include the title insurers' portion of the premium in the retaliatory tax computation for this State. Since the title insurer collects the agent's portion of the premium tax, the title insurer is prohibited from including these amounts in the South Carolina column of retaliatory tax worksheets. This subsection is effective for all premiums collected after the effective date of this act.
HISTORY: Former 1976 Code Section 38-7-90 [1960 (51) 1554; 1962 Code Section 37-175.4; 1976 Act No. 452 Section 2; 1978 Act No. 577 Section 2; 1982 Act No. 403, Section 6] recodified as Section 38-63-590 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-550 [1986 Act No. 540, Part II, Section 31E] recodified as Section 38-7-90 by 1987 Act No. 155, Section 1; 1990 Act No. 347, Section 1; 1993 Act No. 181, Section 534; 2018 Act No. 229 (H.4962), Section 1, eff May 18, 2018.
Effect of Amendment
2018 Act No. 229, Section 1, added (D), providing that title insurers only may include their portion of the premium in the retaliatory tax computations.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 7 - Fees And Taxes › Section 38-7-110. Limitation on action by State for fees, taxes, penalties, and interest; disposition of funds recovered.

The State may bring suit in court for back fees, taxes, penalties, and interest imposed by this title at any time within ten years from the date on which they should have been paid. On collection of the fees and taxes, they must be distributed as provided by the statutes under which they were levied.
HISTORY: Former 1976 Code Section 38-7-110 [1960 (51) 1554; 1962 Code Section 37-175.6; 1982 Act No. 403, Section 10] recodified as Section 38-63-640 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-1-100 [1979 Act No. 63] recodified as Section 38-7-110 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 534.