South Carolina Statutes
§ 38-45-40 — Reciprocal agreements as to licensing nonresidents.
The director or his designee may enter into reciprocal agreements with the insurance commissioners of other states in regard to licensing of nonresident brokers if in his judgment the arrangements or agreements are in the best interest of the State and if the applicant for the license meets the minimum statutory requirements of this State for the issuance of a broker's license. However, the director or his designee may not enter into or continue any reciprocal agreement unless the other state is as liberal as this State in licensing nonresident brokers.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-45-40 [1947 (45) 322; 1952 Code SECTION 37-804; 1962 Code SECTION 37-804; 1964 (53) 2054] recodified as SECTION 38-17-40 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-47-50 [1957 (50) 534; 1962 Code SECTION 37-203.2] recodified as SECTION 38-45-40 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 672; 2012 Act No. 283, SECTION 1, eff January 1, 2012.
Nearby Sections
15
§ 38-45-10
Definitions.§ 38-45-100
Brokers may divide commissions.§ 38-45-140
Revocation of license of broker.§ 38-45-150
Penalties.§ 38-45-160
Brokers policy fees.§ 38-45-180
Authority of department.§ 38-45-190
Authority of director.