Home/South Carolina/Statutes/Title 38: INSURANCE/Ch. 46: REINSURANCE INTERMEDIARY ACT/§ 38-46-100
South Carolina Statutes

§ 38-46-100 — Reinsurance intermediary subject to examination; access to books, accounts and records.

South Carolina·Title 38 INSURANCE·Ch. 46 REINSURANCE INTERMEDIARY ACT
(A)A reinsurance intermediary is subject to examination by the director or his designee. The director or his designee must have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the director or his designee.
(B)A reinsurance intermediary-manager may be examined as if he were the reinsurer.

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South Carolina § 38-46-100 (Reinsurance intermediary subject to examination; access to books, accounts and records.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1992 Act No. 332, SECTION 1; 1993 Act No. 181, SECTION 678.

Nearby Sections

12
§ 38-46-10
Short title.
§ 38-46-100
Reinsurance intermediary subject to examination; access to books, accounts and records.
§ 38-46-110
Violations; hearings; penalties; judicial review; rights of policy holders, claimants, creditors, and other third parties not affected.
§ 38-46-120
Department to promulgate regulations.
§ 38-46-20
Definitions.
§ 38-46-30
Licensing requirement for intermediary-broker and intermediary-manager; bond; requisites for licensing; fee; refusal of license; designation of person to receive process; attorneys exempt.
§ 38-46-40
Written contract required between intermediary-broker and insurer it represents; minimum terms contract must provide.
§ 38-46-50
Records of contracts of reinsurance to be maintained for at least ten years; access by insurer.
§ 38-46-60
Party engaged as intermediary-broker to be licensed; regulation of contacts between insurer and intermediary-broker with which it transacts business; annual filing of financial statements.
§ 38-46-70
Transactions between reinsurance intermediary-manager and reinsurer it represents regulated; written contract required; approval by reinsurer's directors and by director; terms contract must include.
§ 38-46-80
Acts prohibited of reinsurance intermediary-manager.
§ 38-46-90
Party engaged to act as intermediary-manager to be licensed; annual filing of financial statements; loss reserves; authority for retrocessional contracts or participation in reinsurance syndicates; notice of termination of contract with intermediary-manager; persons in certain positions not to serve on reinsurer's board.
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