Each attorney by or through whom are issued any policies of or contracts for indemnity referred to in this chapter shall annually procure from the director or his designee a certificate of authority, stating that all of the requirements of this chapter have been complied with and, upon compliance and the payment of the fees required by this chapter, the director or his designee shall issue the certificate of authority. The director or his designee may revoke or suspend the certificate of authority upon breach of any condition imposed by this chapter after reasonable written notice has been given to the attorney so that he may appear and show cause why action should not be taken. Any attorney who may have procured a certificate of authority under this section may renew it annually.
HISTORY: Former 1976 Code Section 38-17-70 [1962 Code Section 37-568; 1972 (57) 2776; 1977 Act No. 69 Section 2] recodified as Section 38-29-70 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-45-70 [1947 (45) 322; 1952 Code Section 37-807; 1962 Code Section 37-807] recodified as Section 38-17-70 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 545.
Structure South Carolina Code of Laws
Chapter 17 - Reciprocal Insurance
Section 38-17-10. Subscribers authorized to exchange reciprocal or interinsurance contracts.
Section 38-17-30. Verified declaration to be filed with Director.
Section 38-17-40. Maximum liability of subscribers.
Section 38-17-50. Deposit of securities.
Section 38-17-60. Director shall be appointed agent for service of process on exchanges.
Section 38-17-70. Annual certificate of authority.
Section 38-17-80. Domestic corporations may exchange reciprocal or interinsurance contracts.
Section 38-17-90. Maximum indemnity on fire risk; statement required.
Section 38-17-100. Maintenance of assets and guaranty fund.
Section 38-17-110. "Net annual advance premiums or deposits" defined.
Section 38-17-120. Disposition of funds advanced to make up deficiencies.
Section 38-17-130. Exchanges may sue and be sued.
Section 38-17-140. Exchanges subject to examinations.
Section 38-17-150. Annual report of business.
Section 38-17-160. Fees, taxes, and bond of attorney.
Section 38-17-170. Violations of chapter; conditional permit to organize.