South Carolina § 38-13-1040 Discretion over responses to inquiries; examination of documentation and supporting information.

South Carolina Statutes

§ 38-13-1040 — Discretion over responses to inquiries; examination of documentation and supporting information.

South Carolina § 38-13-1040

Title 38INSURANCE

Ch. 13EXAMINATIONS, INVESTIGATIONS, RECORDS, AND REPORTS

This text of South Carolina § 38-13-1040 (Discretion over responses to inquiries; examination of documentation and supporting information.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 38-13-1040 (2026).

Text

(A)The insurer or insurance group has discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the director to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The director may request additional information that he deems material and necessary to provide him with a clear understanding of the corporate governance policies the reporting or information system or controls implementing those policies.

(B)The CGAD must be prepared consistent with the Corporate Governance Annual Disclosure Model Regulation, Regulation 69-80. Documentation and supporting information must be maintained and made available upon examination or upon request of the director.

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(A) The insurer or insurance group has discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the director to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The director may request additional information that he deems material and necessary to provide him with a clear understanding of the corporate governance policies the reporting or information system or controls implementing those policies. (B) The CGAD must be prepared consistent with the Corporate Governance Annual Disclosure Model Regulation, Regulation 69-80. Documentation and supporting information must be maintained and made available upon examination or upon request of the director.