South Carolina Code 38-47-40. Duration of license; nonpayment of fee; requirements for reinstatement
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-47-40
- Adjuster: means an individual who determines the extent of insured losses and assists in settling or attempts to settle claims. See South Carolina Code 38-1-20
- Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
- License: means a document issued by the state's director or his designee authorizing a person to act as an insurance producer for the lines of authority specified in the document. See South Carolina Code 38-1-20
An adjuster‘s license is for an indefinite term unless sooner revoked or suspended if the biennial license fee is paid at the time and in the manner which the department provides by regulation. If the license fee for an adjuster is not received when due, the license must be canceled. If the license is to be reinstated, an original application must be filed and a reinstatement fee equal to the biennial license fee unpaid must be paid in addition to the regular biennial license fee.