South Carolina Code of Laws
Chapter 46 - Reinsurance Intermediary Act
Section 38-46-100. Reinsurance intermediary subject to examination; access to books, accounts and records.

(A) A reinsurance intermediary is subject to examination by the director or his designee. The director or his designee must have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the director or his designee.
(B) A reinsurance intermediary-manager may be examined as if he were the reinsurer.
HISTORY: 1992 Act No. 332, Section 1; 1993 Act No. 181, Section 678.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 38 - Insurance

Chapter 46 - Reinsurance Intermediary Act

Section 38-46-10. Short title.

Section 38-46-20. Definitions.

Section 38-46-30. Licensing requirement for intermediary-broker and intermediary-manager; bond; requisites for licensing; fee; refusal of license; designation of person to receive process; attorneys exempt.

Section 38-46-40. Written contract required between intermediary-broker and insurer it represents; minimum terms contract must provide.

Section 38-46-50. Records of contracts of reinsurance to be maintained for at least ten years; access by insurer.

Section 38-46-60. Party engaged as intermediary-broker to be licensed; regulation of contacts between insurer and intermediary-broker with which it transacts business; annual filing of financial statements.

Section 38-46-70. Transactions between reinsurance intermediary-manager and reinsurer it represents regulated; written contract required; approval by reinsurer's directors and by director; terms contract must include.

Section 38-46-80. Acts prohibited of reinsurance intermediary-manager.

Section 38-46-90. Party engaged to act as intermediary-manager to be licensed; annual filing of financial statements; loss reserves; authority for retrocessional contracts or participation in reinsurance syndicates; notice of termination of contract...

Section 38-46-100. Reinsurance intermediary subject to examination; access to books, accounts and records.

Section 38-46-110. Violations; hearings; penalties; judicial review; rights of policy holders, claimants, creditors, and other third parties not affected.

Section 38-46-120. Department to promulgate regulations.