S.C. Code Ann. § 38-45-10
"Insurance broker" defined
Effective Jun 2, 2009Former 1976 Code Section 38-45-10 [1947 (45) 322; 1952 Code Section 37-801; 1962 Code Section 37-801] recodified as Section 38-17-10 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-10 [1947 (45) 322; 1952 Code Section 37-201; 1962 Code Section 37-201] recodified as Section 38-45-10 by 1987 Act No. 155, Section 1; 1990 Act No. 524, Section 3; 1993 Act No. 181, Section 672; 2009 Act No. 69, Section 7, eff June 2, 2009.
(A)
(1) An "insurance broker", as used in this chapter, means a property and casualty insurance producer licensed by the director or his designee who:
- (a) sells, solicits, or negotiates insurance on behalf of an insured;
- (b) takes or transmits other than for himself an application for insurance or a policy of insurance to or from an insured;
- (c) advertises or otherwise gives notice that he receives or transmits a surplus lines application or policies;
- (d) receives or delivers a policy of surplus lines insurance for an insured on behalf of a surplus lines insurer;
- (e) receives, collects, or transmits a premium of surplus lines insurance; or
- (f) performs another act in the making of a surplus lines insurance contract for or with an insured.
- (2) However, an insurance broker's license is not required of a broker's office employee acting within the confines of the broker's office, under the direction and supervision of the licensed broker and within the scope of the broker's license, in the acceptance of request for insurance and payment of premiums and the performance of clerical, stenographic, and similar office duties.
- (B) An insurance broker may place that insurance either with an eligible surplus lines insurer or with a licensed insurance producer appointed by an insurance carrier licensed in this State.
HISTORY: Former 1976 Code Section 38-45-10 [1947 (45) 322; 1952 Code Section 37-801; 1962 Code Section 37-801] recodified as Section 38-17-10 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-47-10 [1947 (45) 322; 1952 Code Section 37-201; 1962 Code Section 37-201] recodified as Section 38-45-10 by 1987 Act No. 155, Section 1; 1990 Act No. 524, Section 3; 1993 Act No. 181, Section 672; 2009 Act No. 69, Section 7, eff June 2, 2009.