# S.C. Code Ann. § 38-5-80: SECTION 38-5-80. Additional requirements for issuance of certificate or license to domestic insurer; grounds for revocation or suspension of license > South Carolina · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-80 ## Section - **Citation:** S.C. Code Ann. § 38-5-80 - **Heading:** SECTION 38-5-80. Additional requirements for issuance of certificate or license to domestic insurer; grounds for revocation or suspension of license - **Jurisdiction:** South Carolina - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** SC Code / Title 38 / Chapter 5 / Section 38-5-80 ## Text Before granting the original certificate of authority or license to a domestic insurer to do business in this State, the director or his designee must be satisfied by proper evidence that: (a) The insurer is duly qualified to transact business under the laws of this State. (b) The insurer has filed with him an affidavit of its president or other chief officer that it has not violated this title in the past year and that it accepts the terms and obligations of this title as part of the consideration for license. (c) The insurer pays all taxes and performs all duties required by law. (d) The reserves of the insurer are adequate for the protection of policyholders of this State. (e) The insurer's directors and officers are competent, trustworthy, and have a good business reputation and that none of the directors and officers have been convicted of a crime in any jurisdiction involving fraud, dishonesty, or like moral turpitude or convicted of violating an insurance statute of any jurisdiction. (f) The insurer has employed one or more persons residing in this State with adequate experience and training to manage properly its business and affairs. (g) The insurer has not entered into any management contract, agency agreement, or other agreement which may materially affect its financial condition so as to render its proceedings hazardous to the public or to its policyholders. (h) The insurer has made adequate reinsurance arrangements if required. (i) The insurer's proposed method of operation, when considered in light of its financial condition and the absence of any prior operating experience, will not likely render its proceedings hazardous to the public or to its policyholders. (j) The reserve basis to be used by the insurer will be adequate for the protection of policyholders in this State. (k) The insurer's principal place of business and primary executive, administrative, and home offices and all original books and records of the insurer are located and maintained in this State. The provisions of this subsection apply to domestic health maintenance organizations. For purposes of this section, original books and records mean corporate bylaws, charters, articles of incorporation, and any other records deemed to constitute original records by the director or his designee. Insurers desiring to move business records or operations outside of the State shall apply to the director or his designee for approval. Approvals or denials of request to move records or operations fall within the discretion of the director or his designee. The director may also rescind approval of a request if in his discretion it is considered to be in the best interest of the consumers and citizens of the State. Insurers must comply with the records requirements of Section 38-5-190 and the requirements for domestic insurers set forth in this chapter. The director or his designee shall outline via bulletin or order the information required in such an application. Item (k) of this section does not apply to any domestic insurer whose primary executive, administrative, and home offices were located outside this State on July 1, 1987. If subsequently the director or his designee is of the opinion that a condition exists which would have prohibited him from issuing the original certificate of authority or license to the insurer, then that condition also constitutes a ground for license revocation under Section 38-5-120. ## Nearby sections - [S.C. Code Ann. § 38-5-10 SECTION 38-5-10. Insurers must be licensed and supervised; exceptions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-10.md) - [S.C. Code Ann. § 38-5-20 SECTION 38-5-20. Certain charitable, religious, and other corporations authorized to issue annuities or pay lump-sum benefits without being subject to insurance laws.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-20.md) - [S.C. Code Ann. § 38-5-30 SECTION 38-5-30. Kinds of insurance for which an insurer may be licensed.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-30.md) - [S.C. Code Ann. § 38-5-40 SECTION 38-5-40. Kinds of insurance for which life insurer may be licensed.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-40.md) - [S.C. Code Ann. § 38-5-50 SECTION 38-5-50. Certain insurers may not be licensed to write life insurance.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-50.md) - [S.C. Code Ann. § 38-5-60 SECTION 38-5-60. Qualifications to become an approved reinsurer.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-60.md) - [S.C. Code Ann. § 38-5-70 SECTION 38-5-70. Appointment of director as attorney for service of process.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-70.md) - [S.C. Code Ann. § 38-5-80 SECTION 38-5-80. Additional requirements for issuance of certificate or license to domestic insurer; grounds for revocation or suspension of license.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-80.md) - [S.C. Code Ann. § 38-5-90 SECTION 38-5-90. Additional requirements for issuance of certificate or license to foreign or alien insurer; grounds for revocation or suspension of license.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-90.md) - [S.C. Code Ann. § 38-5-100 SECTION 38-5-100. Foreign or alien insurers with names identical with or similar to others not qualified.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-100.md) - [S.C. Code Ann. § 38-5-110 SECTION 38-5-110. Approval of charters or amendments of charter.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-110.md) - [S.C. Code Ann. § 38-5-120 SECTION 38-5-120. Revocation or suspension of certificate of authority; publication of notice; hearing.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-120.md) - [S.C. Code Ann. § 38-5-130 SECTION 38-5-130. Monetary penalty in lieu of license revocation or suspension.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-130.md) - [S.C. Code Ann. § 38-5-140 SECTION 38-5-140. Opportunity for hearing.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-140.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C5_S38-5-80. Check the current official text before relying on it. Not legal advice.