S.C. Code Regs. § § 69-44.17

Current through Register Vol. 48, No. 11, November 22, 2024

Section 69-44.17 - Powers of Director

The Director may, upon written request, waive or grant an exemption to a specific provision or provisions of this regulation with respect to a specific long term care insurance policy or certificate upon a finding that:

A. The modification or suspension would be in the best interest of the insureds;

B. The purposes to be achieved could not be effectively or efficiently achieved without the modification or suspension; and

(1) The modification or suspension is necessary to the development of an innovative and reasonable approach for insuring long term care; or

(2) The policy or certificate is to be issued to residents of a life care or continuing care retirement community or some other residential community for the elderly and the modification or suspension is reasonably related to the special needs or nature of such a community; or

(3) The modification or suspension is necessary to permit long term care insurance to be sold as part of, or in conjunction with, another insurance product.

S.C. Code Regs. § 69-44.17

Added by State Register Volume 13, Issue No. 6, effective 180 days after June 23, 1989. Amended by State Register Volume 34, Issue No. 5, eff May 28, 2010.