South Carolina Code — 38
Browse 1,624 sections in division 38 of the South Carolina code. Each section page includes the full statutory text, official source links, and citation guidance.
Sections (showing up to 300)
- § 38-1-10. Short title.
- § 38-1-20. Definitions.
- § 38-1-30. "Commissioner", etc., means "Director".
- § 38-2-10. Administrative penalties.
- § 38-2-20. Penalties for conviction of misdemeanor.
- § 38-2-30. Penalties for acting without license required by this title.
- § 38-3-10. Department of Insurance and Insurance Commission established.
- § 38-3-40. Compensation and expenses of Commission members.
- § 38-3-60. Powers and duties of Commission and Director of the Department of Insurance.
- § 38-3-80. Seal.
- § 38-3-100. Director of the Department of Insurance; removal; status; term of employment, salary, and qualifications.
- § 38-3-110. Duties of Director of the Department of Insurance.
- § 38-3-120. Oath and bond of director.
- § 38-3-130. Actuaries, examiners, clerks, and employees.
- § 38-3-140. Violations considered committed in part at office of director.
- § 38-3-150. Director, assistants, or agents may conduct examinations, investigations, and hearings.
- § 38-3-160. Administration of oaths.
- § 38-3-170. Notice of hearings.
- § 38-3-180. Summoning witnesses; contempt; perjury.
- § 38-3-190. Mileage payments for witnesses.
- § 38-3-200. Orders must be in writing and signed.
- § 38-3-210. Petition for judicial review of order or decision; effect as stay.
- § 38-3-220. Certificates and papers of director as evidence.
- § 38-3-230. Director's certificate as evidence of authority to do business.
- § 38-3-240. Conversion of licenses to biennial fee collection period; particular fee periods.
- § 38-3-410. Promulgation of emergency regulations on declaration of state of emergency.
- § 38-3-420. Adoption of procedures to facilitate recovery by way of emergency regulations.
- § 38-3-430. Promulgation of standardized requirements applicable to insurers by emergency regulation; areas to be addressed; issuance of orders following natural disaster.
- § 38-3-440. Promulgation of regulations to implement article.
- § 38-5-10. Insurers must be licensed and supervised; exceptions.
- § 38-5-20. Certain charitable, religious, and other corporations authorized to issue annuities or pay lump-sum benefits without being subject to insurance laws.
- § 38-5-30. Kinds of insurance for which an insurer may be licensed.
- § 38-5-40. Kinds of insurance for which life insurer may be licensed.
- § 38-5-50. Certain insurers may not be licensed to write life insurance.
- § 38-5-60. Qualifications to become an approved reinsurer.
- § 38-5-70. Appointment of director as attorney for service of process.
- § 38-5-80. Additional requirements for issuance of certificate or license to domestic insurer; grounds for revocation or suspension of license.
- § 38-5-90. Additional requirements for issuance of certificate or license to foreign or alien insurer; grounds for revocation or suspension of license.
- § 38-5-100. Foreign or alien insurers with names identical with or similar to others not qualified.
- § 38-5-110. Approval of charters or amendments of charter.
- § 38-5-120. Revocation or suspension of certificate of authority; publication of notice; hearing.
- § 38-5-130. Monetary penalty in lieu of license revocation or suspension.
- § 38-5-140. Opportunity for hearing.
- § 38-5-150. Funds may not be paid during suspension without approval.
- § 38-5-160. Injunction, receivership.
- § 38-5-170. Continuation of certificate of authority and other approvals pertaining to foreign insurer transferring its corporate domicile by merger or consolidation.
- § 38-5-180. Authority required for insurer to operate in State.
- § 38-5-190. Copy and reproduction of records; effect and admissibility into evidence of printed reproduction.
- § 38-5-200. Required use of particular insurance premium finance company or other installment plan prohibited; other prohibited acts.
- § 38-7-10. License fees for insurers.
- § 38-7-20. Insurance premium taxes; allocation.
- § 38-7-30. Tax on fire insurers to cover expenses of inspections and investigations; annual report.
- § 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.
- § 38-7-40. Additional premium tax on fire insurers.
- § 38-7-50. Tax on workers' compensation insurers.
- § 38-7-60. Returns of premiums required; quarterly payment of taxes.
- § 38-7-70. Annual reports of premiums of fire insurers; allocation.
- § 38-7-80. Records to be kept; fraudulent returns; failure to keep records or reports or pay funds due.
- § 38-7-90. Retaliatory taxes, penalties, interest, and fees.
- § 38-7-110. Limitation on action by State for fees, taxes, penalties, and interest; disposition of funds recovered.
- § 38-7-120. Late payment of insurance fees and taxes; penalties; return of excess payment.
- § 38-7-130. Payment of fees, taxes, penalties, or interest under protest; action for recovery.
- § 38-7-140. Penalty for failure to pay money due or to supply information required.
- § 38-7-150. Waiver or reduction of penalties or interest.
- § 38-7-160. Municipal license fees and taxes.
- § 38-7-170. Disposition of fees, taxes, penalties, and interest.
- § 38-7-180. Company exempt from taxes.
- § 38-7-200. Credit against premium tax.
- § 38-9-10. Capital and surplus required of stock insurers; delinquency.
- § 38-9-20. Surplus required of mutual insurers; delinquency.
- § 38-9-30. Capital and surplus requirements of insurers licensed as of July 1, 1988; delinquency.
- § 38-9-40. Director to notify insurers of amounts required; annual schedule.
- § 38-9-50. Restrictions on kinds of insurance that insurers may write.
- § 38-9-60. No limitation on certain license provisions.
- § 38-9-70. Insurers may make deposits to do business in other states.
- § 38-9-80. Certificates of deposits or securities required; amounts; factors considered in setting amounts; limits.
- § 38-9-90. Securities or bonds must be held as security for claims.
- § 38-9-100. Deposit of securities not necessary when made with other states.
- § 38-9-110. Voluntary deposits for compliance with laws of other states.
- § 38-9-120. Exchange of deposited securities.
- § 38-9-130. Interest on deposited securities.
- § 38-9-140. Principal of deposited securities.
- § 38-9-150. Return of deposited securities.
- § 38-9-160. Enforcement of trust created by deposit.
- § 38-9-170. Unearned premium reserve.
- § 38-9-180. Standard Valuation Law.
- § 38-9-190. Loss and claim reserves.
- § 38-9-200. Reinsurance credits; liability reductions.
- § 38-9-210. Reduction from liability for reinsurance; security.
- § 38-9-220. "Qualified United States financial institution" defined.
- § 38-9-225. Submission of Statements of Actuarial opinion; Actuarial Opinion Summaries and supporting papers.; liability of Appointed Actuary.
- § 38-9-230. Confidentiality.
- § 38-9-310. Definitions.
- § 38-9-320. Preparation and submission of RBC (risk based capital) Report; form and content.
- § 38-9-330. Company Action Level Event defined; preparation and submission of RBC (risk based capital) Plan by insurer.
- § 38-9-340. Regulatory Action Level Event defined; duties of director; corrective action.
- § 38-9-350. Authorized Control Level Event defined; discretion, rights, powers and duties of director.
- § 38-9-360. Mandatory Control Level Event defined; discretion, rights, powers and duties of director.
- § 38-9-365. Discretion of director to retain actuaries, investment experts, and other consultants; fees, costs, and expense.
- § 38-9-370. Confidential hearing; notification; time of hearing.
- § 38-9-380. Confidentiality of reports, plans, and orders.
- § 38-9-390. Prohibited use of information; publication of materially false or inappropriate statement.
- § 38-9-400. Limitations on use of RBC (risk based capital) Instructions, Reports, and Plans.
- § 38-9-410. Other powers or duties of director or designee.
- § 38-9-420. Regulatory power of director.
- § 38-9-430. Exemptions from application of article.
- § 38-9-440. Applicability of RBC (risk based capital) requirements to foreign insurers.
- § 38-9-450. Limitation of liability.
- § 38-9-460. Notification by director which may result in regulatory action.
- § 38-10-10. Purpose.
- § 38-10-20. Definitions.
- § 38-10-30. Establishment of protected cells; attributions, management and administration of assets.
- § 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.
- § 38-10-50. Availability of protected assets; extent of obligations of protected cell companies contributions to guaranty fund or association; fraudulent conveyance.
- § 38-10-60. Conservation, rehabilitation, or liquidation; amount recoverable by receiver.
- § 38-10-70. Protected cell insurance securitization as insurance contract; investor, underwriters and officers as conducting insurance business.
- § 38-10-80. Promulgation of regulations.
- § 38-12-10. Short title.
- § 38-12-20. Scope of chapter.
- § 38-12-30. Definitions.
- § 38-12-40. Insurer acquisitions, holdings or investments.
- § 38-12-50. Board of director responsibilities; adoption of written investment plan; review of portfolio; records of authorizations.
- § 38-12-60. Prohibited actions of insurer.
- § 38-12-70. Direct or indirect financial interest prohibited; loans to officers or directors.
- § 38-12-80. Asset valuation.
- § 38-12-90. Regulations.
- § 38-12-210. Scope of article.
- § 38-12-220. Restrictions on investments.
- § 38-12-230. Rated credit instruments; federally backed mortgages.
- § 38-12-240. Investment pools; qualification requirements; pooling agreements.
- § 38-12-250. Equity interests in domestic business entities; percentage of assets limitation; short sales.
- § 38-12-260. Tangible personal property; valuation; limitations.
- § 38-12-270. Mortgage loans; real estate.
- § 38-12-280. Securities lending, repurchase, reverse repurchase, and dollar roll transactions.
- § 38-12-290. Foreign investments.
- § 38-12-300. Derivative transactions.
- § 38-12-310. Life insurer loan to policyholder.
- § 38-12-320. Exceptions to investment restrictions; assets from dividends and distributions; mergers and consolidations; protection of previous investments; time for determining qualification.
- § 38-12-410. Scope of article.
- § 38-12-420. Asset and reserve requirements; notice of deficiency; notice to eliminate noncompliance.
- § 38-12-430. Asset limitations for insurer holdings; Canadian investments.
- § 38-12-440. Insurer acquisition of rated credit instruments; limitations.
- § 38-12-450. Insurer acquisition of investments in investment pools; limitations.
- § 38-12-460. Equity interests in domestic business entities; limitations.
- § 38-12-470. Tangible personal property; valuation; limitations.
- § 38-12-480. Mortgage loans; real estate.
- § 38-12-490. Securities lending, repurchase, reverse repurchase, and dollar roll transactions.
- § 38-12-500. Foreign investments.
- § 38-12-510. Derivative transactions.
- § 38-12-520. Exceptions to investment restrictions; assets from dividends and distributions; mergers and consolidations; protection of previous investments; time for determining qualification.
- § 38-13-10. Examination of insurers; examination of person or business; acceptance of examination report of insurer prepared by insurance department of another state.
- § 38-13-20. Examination warrant; conduct of examination; access to books, records, accounts, etc.; refusal to submit to examination; subpoenas, examination under oath; failure to obey subpoena; retaining professionals and specialists as examiners; director's or designee's authority.
- § 38-13-30. Examination report; copy of report to insurer examined; written rebuttals by insurer; review by, and order of, director; hearings; confidentiality of report work papers, recorded information and documents.
- § 38-13-40. Examiners not to be appointed if conflict of interest exists; exceptions.
- § 38-13-50. Insurer to pay cost of examination; civil action to recover costs.
- § 38-13-60. Immunity from liability; recovery of attorney fees and costs if prevailing party.
- § 38-13-70. Investigation of charges; liability for expenses.
- § 38-13-80. Annual statement as to business standing and financial condition.
- § 38-13-85. Annual statement to be filed with National Association of Insurance Commissioners; immunity from liability for disseminating information; confidentiality of information.
- § 38-13-90. Publication of assets and liabilities.
- § 38-13-100. Items to be included as liabilities in financial statements.
- § 38-13-110. Treatment of contingent debts or liabilities in financial statements.
- § 38-13-120. Record of business done; inspection by Director or designee.
- § 38-13-130. Records of losses and claims.
- § 38-13-140. Refusal to exhibit records; false statements; confidentiality of replies.
- § 38-13-150. Returns of reinsurance by insurers; effect of refusal.
- § 38-13-160. Director or designee may require special reports; confidentiality of replies.
- § 38-13-170. Penalties for making or aiding in making false statement.
- § 38-13-180. Insurance reserve fund defined.
- § 38-13-190. Commissioner to examine affairs and methods of operations of insurance reserve fund; reports of findings.
- § 38-13-200. Penalty for refusal to be examined under oath.
- § 38-13-300. Regulations requiring insurer to report its loss and expense experience and other data.
- § 38-13-310. Supplemental report.
- § 38-13-320. Data in supplemental report.
- § 38-13-340. Review of supplemental reports.
- § 38-13-350. Filing of required information.
- § 38-13-360. Penalty for failure to comply with provisions of article.
- § 38-13-400. Report disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions; when due; confidentiality.
- § 38-13-410. Exceptions to reporting requirements; material acquisitions or dispositions defined; information to be disclosed; report to be on nonconsolidated basis; exceptions.
- § 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.
- § 38-13-700. Periodic examination of unemployment compensation fund; duties of director.
- § 38-13-710. Who may request examination; contents of request.
- § 38-13-720. Free access to books, records, and other materials relating to examination; powers of director.
- § 38-13-730. Verification of data provided by department; sample data testing.
- § 38-13-740. Examination reports; contents; submission to General Assembly; availability on Internet websites.
- § 38-13-750. Conflict of interest prohibited.
- § 38-13-760. Department to pay charges.
- § 38-13-770. Inquiries regarding administration of unemployment compensation fund; prompt written reply.
- § 38-13-810. Purpose; application; findings.
- § 38-13-820. Definitions.
- § 38-13-830. Risk management framework.
- § 38-13-840. Insurers required to conduct ORSA on no less than an annual basis.
- § 38-13-850. ORSA Summary Reports.
- § 38-13-860. Exemptions.
- § 38-13-870. Preparation of ORSA Summary Report; review; requests for information.
- § 38-13-880. Confidentiality.
- § 38-13-890. Penalties.
- § 38-13-900. Effective date.
- § 38-13-1000. Purpose; construction; application.
- § 38-13-1010. Definitions.
- § 38-13-1020. Submission of Corporate Governance Annual Disclosure.
- § 38-13-1030. Rules, regulations, and orders.
- § 38-13-1040. Discretion over responses to inquiries; examination of documentation and supporting information.
- § 38-13-1050. Confidentiality of information submitted to director; prohibition against testifying in private civil actions; performance of director's regulatory duties.
- § 38-13-1060. Retention of third-party consultants.
- § 38-13-1070. Penalties.
- § 38-13-1080. Effective date of this article.
- § 38-14-10. Purpose of chapter.
- § 38-14-20. Other sections applicable.
- § 38-14-30. Definitions.
- § 38-14-40. Application process and requirements; limited certificate of authority; approval in changes in plan of operation.
- § 38-14-50. Purpose of SPRVs.
- § 38-14-60. Contracts with ceding insurers; requirements and guidelines for conducting business; trust agreements.
- § 38-14-70. Powers; bylaws.
- § 38-14-80. Relationship to ceding insurer.
- § 38-14-90. Capital requirements.
- § 38-14-100. Declaration and payment of dividends.
- § 38-14-110. Records and filing requirements.
- § 38-14-120. Election and removal of officers; loans.
- § 38-14-130. Reimbursement of formation and operation expenses and costs.
- § 38-14-140. Dissolution procedure.
- § 38-14-150. Rehabilitation and liquidation.
- § 38-14-160. Exemption from guaranty fund contributions or guaranty associations.
- § 38-14-170. Trust asset requirements; swap agreements.
- § 38-14-180. Reinsurance credit.
- § 38-14-190. Purchase of SPRV securities as transacting insurance business.
- § 38-14-200. Promulgation of regulations.
- § 38-15-10. Special authority required for writing certain bonds; forms of the bonds.
- § 38-15-20. Withdrawal of special authority for writing certain bonds.
- § 38-15-30. Deposit of securities required.
- § 38-15-40. Effect of reduction in value of bonds deposited by surety.
- § 38-15-50. Deposit of cash in trust in lieu of giving bond or depositing securities.
- § 38-15-60. Power to become surety; release; rights and liabilities.
- § 38-15-70. Estoppel to deny power to execute bond or assume liability.
- § 38-15-80. Persons considered agents of surety insurers.
- § 38-15-90. Approval of public officer's books and accounts does not release his surety; remedy in case of default.
- § 38-15-100. Venue for suit on bonds or obligations.
- § 38-17-10. Subscribers authorized to exchange reciprocal or interinsurance contracts.
- § 38-17-30. Verified declaration to be filed with Director.
- § 38-17-40. Maximum liability of subscribers.
- § 38-17-50. Deposit of securities.
- § 38-17-60. Director shall be appointed agent for service of process on exchanges.
- § 38-17-70. Annual certificate of authority.
- § 38-17-80. Domestic corporations may exchange reciprocal or interinsurance contracts.
- § 38-17-90. Maximum indemnity on fire risk; statement required.
- § 38-17-100. Maintenance of assets and guaranty fund.
- § 38-17-110. "Net annual advance premiums or deposits" defined.
- § 38-17-120. Disposition of funds advanced to make up deficiencies.
- § 38-17-130. Exchanges may sue and be sued.
- § 38-17-140. Exchanges subject to examinations.
- § 38-17-150. Annual report of business.
- § 38-17-160. Fees, taxes, and bond of attorney.
- § 38-17-170. Violations of chapter; conditional permit to organize.
- § 38-19-10. Membership in mutual insurer.
- § 38-19-20. Contract shall stipulate membership of contract holder.
- § 38-19-30. Organization, governance, and operation as domestic business corporations; applicability of Business Corporation Act.
- § 38-19-40. Notice of annual meetings.
- § 38-19-50. Use of proxies.
- § 38-19-60. Quorum for conduct of business at annual meeting; form and approval of voting proxies.
- § 38-19-270. Dividends.
- § 38-19-410. Contingent liability of members.
- § 38-19-420. Contingent liability is not an asset of the insurer.
- § 38-19-430. Validity of guaranty against liability.
- § 38-19-440. Assessments for deficiencies.
- § 38-19-450. Computation of individual assessments.
- § 38-19-460. Enforcement of contingent liability on assessment premium plan.
- § 38-19-470. Nonassessable policies.
- § 38-19-480. Nonassessable plan applies to all policies.
- § 38-19-490. Revocation of authority to issue nonassessable policies.
- § 38-19-610. Borrowed surplus.
- § 38-19-620. Loans may not be part of legal liabilities but must be reflected in financial statements.
- § 38-19-630. Repayment of loans.
- § 38-19-640. Repayment of more than one loan or by multiple agreement.
- § 38-19-650. Director's approval required for repayment.
- § 38-19-660. Rights of holders of loan upon dissolution.
- § 38-19-815. Definitions.
- § 38-19-825. Transactions of a mutual insurer.
- § 38-19-1010. Fire and storm insurance; suits; seals.
- § 38-19-1020. Directors and officers; regulations.
- § 38-19-1030. Liability of members; property pledged; lien.
- § 38-19-1040. Extent of liability; release by transfer rights of purchaser.
- § 38-19-1050. Limit of amount insurance.
- § 38-19-1110. Authorization to reorganize.
- § 38-19-1120. Transition to domestic mutual insurance holding company system; membership interests of policyholders.
- § 38-19-1130. Plan of reorganization; approval; contents.
- § 38-19-1140. Review of plan; costs; public hearing; order of approval or disapproval.
- § 38-19-1150. Policyholder meeting to vote on plan.
- § 38-19-1160. Filing articles of incorporation; issuance of certificate of authority.
- § 38-19-1170. Membership interest as security; transfer of interest.
- § 38-19-1180. Dividends and distributions; effect of adoption or implementation of plan of reorganization.
- § 38-19-1190. Demutualization.
- § 38-19-1200. Confidentiality of information disclosed pursuant to application to reorganize.
- § 38-19-1210. Applicability of insurance laws; exemptions for entities not writing insurance; mergers; protection of policyholder interests; promulgation of regulations.
- § 38-19-1220. Availability of assets to satisfy policyholder claims in proceedings for supervision, rehabilitation or liquidation; dissolution.
- § 38-19-1230. Filing of annual statements; audit; notice of stock offering.
- § 38-19-1240. Time limitation for filing challenge to reorganization.
- § 38-21-10. Definitions.
- § 38-21-20. Authority of insurers to organize or acquire subsidiaries.
- § 38-21-30. Authority of insurers to invest in securities of subsidiaries.
- § 38-21-40. Investments in securities of subsidiaries are not subject to other restrictions.