™Your Policy Risk Impact Agent
66 chapters · 1,628 sections in this title.
S.C. Code Ann. § 38-44-10 Short title
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This chapter may be cited as the "Managing General Agents Act".
S.C. Code Ann. § 38-44-20 Definitions
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As used in this chapter: (1) "Actuary" means a person who is a member in good standing of the American Academy of Actuaries. (2) "Insurer" means a domestic insurer as defined in Section 38-1-20(21). (3)(a) "Managing general agent", MGA, means a person who: (i) manages all or part…
S.C. Code Ann. § 38-44-30 License required to act as managing general agent; bond requirements
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(A) No person may act in the capacity of a MGA with respect to risks located in this State for an insurer licensed in South Carolina unless the person is licensed as an agent for that insurer in this State. (B) No person may act in the capacity of a MGA representing an insurer do…
S.C. Code Ann. § 38-44-40 Contract required for managing general agent to place business with insurer; minimum provisions of contract
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No person acting in the capacity of a MGA may place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party with both parties sharing responsibility for a particular function, specifies the divis…
