The director or his designee and the Attorney General shall remove from the list of surety insurers whose bonds are acceptable under Section 38-15-10 the names of insurers who in their judgment fail or refuse to carry out promptly their obligations in good faith.
HISTORY: Former 1976 Code Section 38-15-20 [1960 (51) 1664; 1962 Code Section 37-762] recodified as Section 38-19-840 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-13-40 [1947 (45) 322; 1952 Code Section 37-604; 1962 Code Section 37-604] recodified as Section 38-15-20 by 1987 Act No. 155, Section 1; 1988 Act No. 386, Section 2; 1993 Act No. 181, Section 539.
Structure South Carolina Code of Laws
Section 38-15-10. Special authority required for writing certain bonds; forms of the bonds.
Section 38-15-20. Withdrawal of special authority for writing certain bonds.
Section 38-15-30. Deposit of securities required.
Section 38-15-40. Effect of reduction in value of bonds deposited by surety.
Section 38-15-50. Deposit of cash in trust in lieu of giving bond or depositing securities.
Section 38-15-60. Power to become surety; release; rights and liabilities.
Section 38-15-70. Estoppel to deny power to execute bond or assume liability.
Section 38-15-80. Persons considered agents of surety insurers.