South Carolina Statutes
§ 38-13-130 — Records of losses and claims.
Every insurer doing business in this State shall maintain a record of losses paid under its policies and notices as provided in its policies which may normally result in claim or loss. The records must be maintained until the next regular examination by an insurance department or for a period of five years from the date of payment of the loss or receipt of the notice.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-13-130 [1947 (45) 322; 1952 Code SECTION 37-613; 1962 Code SECTION 37-613] recodified as SECTION 38-15-100 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-1340 [1956 (49) 1740; 1962 Code SECTION 37-290.1] recodified as SECTION 38-13-130 by 1987 Act No. 155, SECTION 1; 1988 Act No. 357, SECTION 3; 1993 Act No. 181, SECTION 537.
Nearby Sections
15
§ 38-13-1000
Purpose; construction; application.§ 38-13-1010
Definitions.§ 38-13-1030
Rules, regulations, and orders.§ 38-13-1040
Discretion over responses to inquiries; examination of documentation and supporting information.§ 38-13-1060
Retention of third-party consultants.§ 38-13-1070
Penalties.§ 38-13-1080
Effective date of this article.§ 38-13-130
Records of losses and claims.