South Carolina § 38-79-290 Examination of association; audit in lieu of examination.

South Carolina Statutes

§ 38-79-290 — Examination of association; audit in lieu of examination.

South Carolina § 38-79-290

Title 38INSURANCE

Ch. 79MEDICAL MALPRACTICE INSURANCE

This text of South Carolina § 38-79-290 (Examination of association; audit in lieu of examination.) 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. § 38-79-290 (2026).

Text

The director or his designee shall conduct an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the department, the Governor, and the General Assembly. The expenses of the examination must be paid by the association. The director or his designee may accept an audit of the association performed by a qualified public accounting firm in lieu of conducting his own examination.

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The director or his designee shall conduct an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the department, the Governor, and the General Assembly. The expenses of the examination must be paid by the association. The director or his designee may accept an audit of the association performed by a qualified public accounting firm in lieu of conducting his own examination.

Legislative History

HISTORY: 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 830; 2019 Act No. 67 (H.3760), SECTION 1, eff May 16, 2019. Effect of Amendment 2019 Act No. 67, SECTION 1, in the first sentence, substituted "shall conduct" for "shall make", and added the third sentence.