S.C. Code § 38-101-70

Current through 2024 Act No. 225.

Section 38-101-70 - Surplus lines broker; placement of policy providing flood insurance to eligible surplus lines insurer

A surplus lines broker may place a policy or endorsement providing flood insurance coverage to an eligible surplus lines insurer without making a diligent effort to seek such coverage from one or more admitted insurers required pursuant to Section 38-45-90.

S.C. Code § 38-101-70

Added by 2020 S.C. Acts, Act No. 166 (SB 882),s 2, eff. 11/27/2020.

2020 Act No. 166, Section 3, provides as follows:

"SECTION 3. This act becomes effective sixty days following approval by the Governor. Insurers that are writing private flood insurance at the time of enactment have an additional one hundred twenty days to come into compliance with the requirements of this act."