South Carolina § 38-51-40 - Written agreement required.
Full text of South Carolina South Carolina Code of Laws § 38-51-40 — Written agreement required., with citation guidance and answers to common questions.
§ 38-51-40. Written agreement required.
No administrator may act as such without a written agreement between the administrator and the insurer, and the written agreement must be retained as part of the official records of both the insurer and the administrator for the duration of the agreement and five years thereafter. The written agreement shall contain provisions which include the requirements of Sections 38-51-60 through 38-51-110, except insofar as those requirements do not apply to the functions performed by the administrator.
Where a policy is issued to a trustee, a copy of the trust agreement and any amendments thereto must be furnished to the insurer by the administrator and must be retained as part of the official records of both the insurer and the administrator for the duration of the policy and five years thereafter.
HISTORY: Former 1976 Code SECTION 38-51-40 [1948 (45) 1734; 1952 Code SECTION 37-232; 1962 Code SECTION 37-232] recodified as SECTION 38-43-40 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-67-20 [1985 Act No. 133, SECTION 2] recodified as SECTION 38-51-40 by 1987 Act No. 155, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-51-40
What does South Carolina Code of Laws § 38-51-40 cover?
Section 38-51-40 ("Written agreement required.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 38-51-40?
A common citation format is "South Carolina Code of Laws § 38-51-40" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-51-40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.