Before the director or his designee approves a nonadmitted insurer as an eligible surplus lines insurer, the insurer shall 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 served upon this attorney is of the same legal force and validity as if served upon the insurer and that the authority continues in force so long as any liability remains outstanding in the State. Copies of the appointment, certified by the director, are sufficient evidence of the appointment and must be admitted in evidence with the same force and effect as the original might be admitted.
HISTORY: Former 1976 Code Section 38-45-170 [1947 (45) 322; 1952 Code Section 37-817; 1962 Code Section 37-817] recodified as Section 38-17-170 by 1987 Act No. 155, Section 1; New Section 38-45-170 enacted by 1988 Act No. 314, Section 10; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.
Structure South Carolina Code of Laws
Chapter 45 - Insurance Brokers And Surplus Lines Insurance
Section 38-45-10. Definitions.
Section 38-45-20. Requirements for resident to be licensed as an insurance broker.
Section 38-45-30. Requirements for nonresident to be licensed as an insurance broker.
Section 38-45-40. Reciprocal agreements as to licensing nonresidents.
Section 38-45-50. Duration of broker's license; nonpayment of license fee.
Section 38-45-70. Effect of broker's license; municipal license fees.
Section 38-45-80. Brokers to keep records of business done, furnish to director for inspection.
Section 38-45-100. Brokers may divide commissions.
Section 38-45-110. Warning stamped on policies of eligible surplus lines insurer.
Section 38-45-120. Personal liability of broker on policy of unlicensed insurer.
Section 38-45-130. Adjustment of losses; inspections and endorsements.
Section 38-45-140. Revocation of license of broker.
Section 38-45-160. Brokers policy fees.
Section 38-45-180. Authority of department.
Section 38-45-190. Authority of director.
Section 38-45-195. Collecting taxes for all risks placed in surplus lines market.