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Bill Number: 1152 Ratification Number: 401 Act Number 363 Introducing Body: Senate Subject: Access to insurer's records; original books and records required
(A363, R401, S1152)
AN ACT TO AMEND SECTION 38-13-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXAMINATION OF AN INSURER, SO AS TO PROVIDE FOR THE CHIEF INSURANCE COMMISSIONER'S AND EXAMINER'S ACCESS TO THE INSURER'S RECORDS INSTEAD OF ITS PAPERS AND TO ALLOW THE COMMISSIONER TO REQUIRE THE INSURER TO FURNISH THE ORIGINAL BOOKS AND RECORDS.
Be it enacted by the General Assembly of the State of South Carolina:
Access to insurer's records; original books and records required
SECTION 1. Section 38-13-20 of the 1976 Code is amended to read:
"Section 38-13-20. For the purposes of Section 38-13-10 the commissioner or person making the examination has free access to all books and records relevant to the examination of an insurer, including those kept by its agents or affiliated or subsidiary corporations or partnerships. If the commissioner considers it necessary to the conduct of the examination, he may require that the insurer or its agents or affiliated or subsidiary corporations or partnerships furnish the original books and records. The commissioner may summon, administer oaths to, and examine as witnesses the directors, officers, agents, or trustees of a company, agents, affiliated or subsidiary companies, or any other person in relation to matters relevant to the examination."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 19th day of March, 1990.