South Carolina Code of Laws
Chapter 45 - Insurance Brokers And Surplus Lines Insurance
Section 38-45-50. Duration of broker's license; nonpayment of license fee.

Each license issued is for an indefinite term unless revoked or suspended. If the biennial license fee of a broker is not paid at the time and in the manner the department provides by regulation, the license must be canceled. If the license is to be reinstated, an original application must be filed and a reinstatement fee equal to the biennial license fee unpaid must be paid in addition to the regular biennial license fee.
HISTORY: Former 1976 Code Section 38-45-50 [1947 (45) 322; 1952 Code Section 37-805; 1962 Code Section 37-805; 1964 (53) 2054] recodified as Section 38-17-50 by 1987 Act No. 155, Section 1; Former 1976 Code Sections 38-1-60 [1979 Act No. 63], and 38-47-90 [1947 (45) 322; 1952 Code Section 37-205; 1962 Code Section 37-205; 1976 Act No. 612 Section 2] recodified as Section 38-45-50 by 1987 Act No. 155, Section 1; 1992 Act No. 501, Part II Section 11L; 1993 Act No. 181, Section 672; 2012 Act No. 283, Section 1, eff January 1, 2012.

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