South Carolina § 38-43-70 Nonresident producer licensure.

South Carolina Statutes

§ 38-43-70 — Nonresident producer licensure.

South Carolina·Title 38 INSURANCE·Ch. 43 INSURANCE PRODUCERS AND AGENCIES

(A)Unless denied licensure pursuant to Section 38-43-130, a nonresident person shall receive a nonresident producer license with the same lines of authority held in the home state if the:

(1)person is currently licensed as a resident and in good standing in his home state;

(2)person has submitted the proper request for licensure and the fees have been paid as provided for in Section 38-43-80;

(3)person has submitted or transmitted to the director or his designee a certified copy of the application for licensure that the person submitted to his home state, or instead of the certified copy an original completed Uniform Application; and (4) person's home state awards nonresident producer licenses to residents of this State on the same basis.

(B)The director or his designee may verify the

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(A) Unless denied licensure pursuant to Section 38-43-130, a nonresident person shall receive a nonresident producer license with the same lines of authority held in the home state if the: (1) person is currently licensed as a resident and in good standing in his home state; (2) person has submitted the proper request for licensure and the fees have been paid as provided for in Section 38-43-80; (3) person has submitted or transmitted to the director or his designee a certified copy of the application for licensure that the person submitted to his home state, or instead of the certified copy an original completed Uniform Application; and (4) person's home state awards nonresident producer licenses to residents of this State on the same basis. (B) The director or his designee may verify the producer's licensing status through the Producer Database maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries. (C) A nonresident producer who moves from one state to another state or a resident producer who moves from this State to another state shall file a change of address and provide certification from the new resident state within thirty days of the change of legal residence. No fee or license application is required. (D) Notwithstanding any other provision of this section, a person licensed as a surplus lines broker in his home state shall receive a nonresident surplus lines broker license pursuant to subsection (A) of this section. Except as to subsection (A) of this section, nothing in this section otherwise amends or supersedes any provision of Section 38-45-30. (E) Notwithstanding any other provision of this section, a person licensed as a limited line credit insurer or other type of limited lines producer in his home state shall receive a nonresident limited lines producer license, pursuant to subsection (A) of this section, granting the same scope of authority as granted under the license issued by the producer's home state.

South Carolina § 38-43-70 (Nonresident producer licensure.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-43-70 [1947 (45) 322; 1952 Code SECTION 37-657; 1962 Code SECTION 37-657] recodified as SECTION 38-73-60 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-51-80 [1947 (45) 322; 1952 Code SECTION 37-246; 1957 (50) 534; 1962 Code SECTION 37-246; 1964 (53) 2290; 1966 (54) 2666; 1967 (55) 132] recodified as SECTION 38-43-70 by 1987 Act No. 155, SECTION 1; 1992 Act No. 501, Part II SECTION 11G; 1993 Act No. 181, SECTION 658; 2002 Act No. 323, SECTION 2, eff January 31, 2003; 2003 Act No. 73, SECTION 9, eff June 25, 2003; 2008 Act No. 326, SECTION 2, eff June 16, 2008.