S.C. Code Regs. § § 38-418

Current through Register Vol. 48, No. 10, October 25, 2024

Section 38-418 - Cancellation of Insurance or Surety Bond

1. Thirty (30) Days Notice Required. Any insurance company, surety bond company, or motor carrier which desires to cancel a policy or bond issued to a motor carrier subject to these rules can do so only after giving this Department not less than thirty (30) days notice. The thirty (30) days will begin to run once the notice is received in the Department's offices. However, new filings on behalf of a carrier by a different insurance company will nullify any filings by a previous insurance company and will not require a thirty day notice filing by the previous insurance company.

2. Form K or Form L Used to Give Notice of Cancellation. Notification of cancellation will be made on forms prescribed by the Department. Form K, "Uniform Notice of Cancellation of Motor Carrier Insurance Policies" (See Form K in 38-447 Appendix), will be used to notify the Department of cancellation of an insurance policy, and Form L, "Uniform Notice of Cancellation of Motor Carrier Surety Bonds" (See Form L in 38-447 Appendix), will be used to notify the Department of cancellation of a surety bond.

S.C. Code Regs. § 38-418

Added by State Register Volume 22, Issue No. 3, eff March 27, 1998.