South Carolina Code 38-15-80. Persons considered agents of surety insurers
Current as of: 2023 | Check for updates
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A person is considered as acting agent for a surety insurer established in another state when he represents the insurer by:
(a) receiving or transmitting applications for suretyship,
Terms Used In South Carolina Code 38-15-80
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
- Surety: includes insurance or a bond that covers obligations to pay the debts, or answer for the default, of another, including faithlessness in a position of public or private trust. See South Carolina Code 38-1-20
(b) receiving for delivery bonds founded on applications forwarded from this State, or
(c) procuring suretyship to be effected by the insurer upon the bonds of this State or upon bonds given to persons in this State.