Bulletin 1999-5 Repeal of Countersignature Requirements

Repeal of Countersignature Requirements Departmental Interpretation

of Act Number 30 of 1999

(Issued upon October 20, 1999)

To: All Insurers Licensed To Transact Insurance Business in the State of South Carolina

From: Mr. Ernst N. Csiszar, Director

Subject: Repeal of Countersignature Requirements Departmental Interpretation of Act Number 30 of 1999

The purpose of this Bulletin is to advise all insurers licensed to transact insurance business in the State of South Carolina

regarding the repeal of countersignature requirements as provided for in Act Number 30 of 1999. For questions concerning this

Bulletin, please contact Mr. Jim Byrd, Senior Advisor to the Director, Program Manager for Agents= Licensing, Office of

Administration, State of South Carolina Department of Insurance at Post Office Box 100105, 300 Arbor Lake Drive, Suite 1200,

Columbia, South Carolina 29202-3105; at facsimile number (803) 737-6231, telephone number (803) 737-6150.

This Act deletes from South Carolina Code Ann. Section 38-43-60 the following language:

and all policies, except health and accident and life insurance policies and certificates issued under group insurance

policies, must be personally or mechanically signed on behalf of the agent.

Additionally, the following language is deleted from this Section:

An insurer may amend or replace its outstanding policies with a newly revised policy form or necessary endorsements

without complying with the countersignature requirement.

The deletion of this language eliminates the requirement that licensed non-resident agents have a licensed resident agent

countersign applications for business within this State.

This Act deletes from South Carolina Code Ann. Section 38-45-30(5) the following language:

and personally countersigned by a licensed resident agent of the surety

thout complying with the countersignature requirement.

The deletion of this language eliminates the requirement that licensed non-resident agents have a licensed resident agent

countersign applications for business within this State.

This Act deletes from South Carolina Code Ann. Section 38-45-30(5) the following language:

and personally countersigned by a licensed resident agent of the surety.

The deletion of this language eliminates the requirement that licensed non-resident surety agents have a licensed resident

surety agent countersign applications for business written in this State.

This Act repeals South Carolina Code Ann. Section 38-87-60. As the countersignature requirement has been eliminated, this

Section of the Code is no longer necessary.