(A55, R81, S463) AN ACT TO AMEND SECTION 38120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS USED IN TITLE 38, SO AS TO INCLUDE CERTAIN FORMS OF DISABILITY INSURANCE IN THE DEFINITION FOR THE TERM “SURPLUS LINES TO AMEND SECTION 3843100, AS INSURANCE”; AND AMENDED, RELATING TO INSURANCE PRODUCER LICENSING, SO AS TO AUTHORIZE THE SOUTH CAROLINA LAW ENFORCEMENT DIVISION TO RETAIN FINGERPRINTS FOR USE IN IDENTIFICATION PURPOSES. Be it enacted by the General Assembly of the State of South Carolina: Surplus lines insurance definition, disability insurance above benefit limit included SECTION 1. Section 38120(56) of the 1976 Code, as last amended by Act 137 of 2016, is further amended to read: lines insurance in this State of risks “(56) ‘Surplus insurance’ means located or to be performed in this State, permitted to be placed through a licensed broker, or a licensed broker as provided in Section 384510(8)(b)(ii), with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stoploss insurance coverage upon group life, accident, and health insurance or upon a life, selfinsured’s accident, and health benefits program and disability insurance in excess of any benefit limit available from an admitted insurer may be approved as surplus lines insurance.” Insurance producer licensing, SLED retains fingerprints SECTION 2. Section 3843100 of the 1976 Code, as last amended by Act 194 of 2016, is further amended to read: (A) Business may not be done by the applicant “Section 3843100. except following issuance of a and the license may producer’s license, not be issued until the director or his designee has determined that the applicant is qualified as an insurance producer, generally, and is particularly qualified for the line of business in which the applicant
(A55, R81, S463) AN ACT TO AMEND SECTION 38120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS USED IN TITLE 38, SO AS TO INCLUDE CERTAIN FORMS OF DISABILITY INSURANCE IN THE DEFINITION FOR THE TERM “SURPLUS LINES INSURANCE”; AND TO AMEND SECTION 3843100, AS AMENDED, RELATING TO INSURANCE PRODUCER LICENSING, SO AS TO AUTHORIZE THE SOUTH CAROLINA LAW ENFORCEMENT DIVISION TO RETAIN FINGERPRINTS FOR USE IN IDENTIFICATION PURPOSES. Be it enacted by the General Assembly of the State of South Carolina: Surplus lines insurance definition, disability insurance above benefit limit included SECTION 1. Section 38120(56) of the 1976 Code, as last amended by Act 137 of 2016, is further amended to read: “(56) ‘Surplus lines insurance’ means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker, or a licensed broker as provided in Section 384510(8)(b)(ii), with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stoploss insurance coverage upon group life, accident, and health insurance or upon a selfinsured’s life, accident, and health benefits program and disability insurance in excess of any benefit limit available from an admitted insurer may be approved as surplus lines insurance.” Insurance producer licensing, SLED retains fingerprints SECTION 2. Section 3843100 of the 1976 Code, as last amended by Act 194 of 2016, is further amended to read: “Section 3843100. (A) Business may not be done by the applicant except following issuance of a producer’s license, and the license may not be issued until the director or his designee has determined that the applicant is qualified as an insurance producer, generally, and is particularly qualified for the line of business in which the applicant
463.docx