All insurers licensed to transact insurance business in this State shall comply with the standards prescribed by regulation of the department. The director or his designee is empowered to withdraw approval or certification on all existing policies of commonly purchased insurance that do not comply with Section 38-61-30.
HISTORY: Former 1976 Code Section 38-3-62 [1978 Act No. 550 Section 3] recodified as Section 38-61-40 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 724; 2001 Act No. 82, Section 21, eff July 20, 2001.
Structure South Carolina Code of Laws
Chapter 61 - Insurance Contracts Generally
Section 38-61-10. Contracts which are considered made in State.
Section 38-61-25. Approval procedures to issue or sell exempt commercial policies.
Section 38-61-30. Promulgation of standards for readability of certain contracts and policies.
Section 38-61-40. Compliance with standards for readability of certain contracts and policies; withdrawal of approval or certification on noncomplying documents.