South Carolina Statutes
§ 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.
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Legislative History
HISTORY: 2020 Act No. 166 (S.882), SECTION 2, eff November 27, 2020. Editor's Note 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."
Nearby Sections
14
§ 38-101-10
Intent of chapter.§ 38-101-100
Controlling law.§ 38-101-110
Certification of policy that equals or exceeds flood coverage offered by NFIP; misrepresentation.§ 38-101-130
Renewal of policy.§ 38-101-20
Definitions.§ 38-101-30
Issuance of policies.§ 38-101-50
Required filings with director; filing of prospective loss cost and supplementary rate information.