S.C. Code § 38-45-80

Current through 2024 Act No. 225.

Section 38-45-80 - Brokers to keep records of business done, furnish to director for inspection

All brokers doing any kind of insurance business in this State shall make and keep a full and correct record of the business done by them, showing the number, date, term, amount insured, premiums, and the person to whom issued of every policy or certificate of renewal. The information from these records must be furnished to the director or his designee on demand and the original books or records are open to the inspection of the director or his designee on demand. These records must be kept for a minimum of five years. The director or his designee also may conduct examinations of broker records. Examinations must be conducted in accordance with the requirements of Chapter 13 of this title. The broker is responsible for the costs of any examination.

Amended by 2012 S.C. Acts, Act No. 283 (SB 1419), s 1, eff. 1/1/2012.

1993 Act No. 181, Section 672; 1988 Act No. 357, Section 5; 1962 Code Section 37-290] recodified as Section 38-45-80 by 1987 Act No. 155, Section 1; 1952 Code Section 37-290; Former 1976 Code Section 38-5-1210 [1947 (45) 322; 1962 Code Section 37-808] recodified as Section 38-17-80 by 1987 Act No. 155, Section 1; 1952 Code Section 37-808; Former 1976 Code Section 38-45-80 [1947 (45) 322.