South Carolina Code of Laws Title 38, Chapters 5, 43 and part of 55 (first third)

What this document is

South Carolina Code of Laws Title 38, Chapters 5, 43 and part of 55 (first third) is a state statute published by South Carolina Legislative Services Agency, scstatehouse.gov (retrieved via an Internet Archive snapshot of the official site). It is one of the South Carolina documents that insurance license exam questions are written from, including south carolina life & health, south carolina property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• S.C. Code Ann. Title 38 § 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.”

• S.C. Code Ann. Title 38 § 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...”

• S.C. Code Ann. Title 38 § 38-5-100 (Foreign or Alien Insurers with Identical or Similar Names)

  “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.”

• S.C. Code Ann. Title 38 § 38-43-30(A) (License required of agencies)

  “(A) Every agency, whether corporation, partnership, association, person, or other aggregation of individuals, transacting or purporting to transact the business of an insurance producer under a corporate or trade name must be licensed by the director or his designee. The term "producer" as used in...”

• S.C. Code Ann. Title 38 § 38-5-20 (Charitable and similar corporations authorized to issue annuities 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...”

• S.C. Code Ann. Title 38 § 38-43-100(H) (Contents of individual producer license)

  “The individual's producer license must contain the licensee's name, address, personal identification number, the date of issuance, the line or lines of authority, and other information the director or his designee considers necessary.”

• S.C. Code Ann. Title 38 § 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...”

• S.C. Code Ann. Title 38 § 38-43-20(C) (Producer's license required; exceptions)

  “(C) Nothing in this chapter may be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates.”

• S.C. Code Ann. Title 38 § 38-43-50(C) (Appointment of Producer by Insurer; Notice and Fee)

  “To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the director or his designee, a notice of appointment within fifteen days from the date the agency contract is executed or the first insurance application is submitted. An insurer also may elect to...”

• S.C. Code Ann. Title 38 § 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...”

• S.C. Code Ann. Title 38 § 38-43-110(B) (Renewal; Reinstatement After Lapse for Continuing Education)

  “A producer who allows his license to lapse for failure to comply with Section 38-43-106, within six months from the compliance deadline, may reinstate the same license if continuing education requirements have been met and a penalty fee set forth by regulation is paid.”

• S.C. Code Ann. Title 38 § 38-43-20(A) (Producer's license required; exceptions)

  “(A) A person may not sell, solicit, or negotiate insurance in this State for any line or lines of insurance unless the person is licensed for that line of authority in accordance with this chapter.”

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Questions about this source

More South Carolina sources

• S.C. Code Ann. ch. 38-57: Unfair trade practices in the business of insuranceState statute
• S.C. Code Ann. ch. 38-43: Producers (licensing, appointment, discipline)State statute
• S.C. Code Ann. ch. 38-63: Life insurance policy provisionsState statute
• S.C. Code Ann. ch. 38-71: Accident and health insurance policy provisionsState statute
• South Carolina Code of Laws Title 38, Chapters 55, 57, 59, 63 and part of 65 (second third)State statute
• South Carolina Code of Laws Title 38, Chapters 65, 71 and 72 (final third)State statute
• South Carolina Insurance Content OutlinesCandidate handbook or exam outline
• South Carolina Insurance Licensing Candidate HandbookCandidate handbook or exam outline