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2021 South Carolina Code of Laws
Title 38 - Insurance
Chapter 79 - Medical Malpractice Insurance
Section 38-79-290. Examination of association; audit in lieu of examination.
Universal Citation: SC Code § 38-79-290 (2021)
The director or his designee shall conduct an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the department, the Governor, and the General Assembly. The expenses of the examination must be paid by the association. The director or his designee may accept an audit of the association performed by a qualified public accounting firm in lieu of conducting his own examination.
HISTORY: 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 830; 2019 Act No. 67 (H.3760), Section 1, eff May 16, 2019.
Effect of Amendment
2019 Act No. 67, Section 1, in the first sentence, substituted "shall conduct" for "shall make", and added the third sentence.
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