Agency Licensing Information

S.C. Code Ann. 38-43-30.

Every agency, whether corporation, partnership, association or other aggregation of individuals, transacting or purporting to transact the business of an insurance producer under a corporate or trade name must be licensed by the director or his designee. The term "producer" as used in this title is considered to include an agency, unless the context requires otherwise. Every stockholder, officer, director, member, employee, or associate of an agency, performing any act of a producer as enumerated in S.C. Code Ann. 38-43-10, shall possess a current producer's license giving authority to transact that particular business.
 

Licensing Requirements

In order to consider a corporation or a LLC for licensing, it is first necessary that the corporation or LLC register with the South Carolina Secretary of State's Office. In this regard, please contact the South Carolina Secretary of State's Office, Post Office Box 11350, Columbia, SC 29211. The telephone number is (803) 734-2158. When this process is completed and the agency has at least one licensed producer, the agency can then forward the following documents to the South Carolina Department of Insurance for licensing:

1. Agency Application, Form Number 3511
2. License fee of $40
3. Certificate of Authority from the South Carolina Secretary of State's Office
4. Certificate of Authority or a Home State Letter of Certification if the agency is not domiciled in South Carolina

The requirement for an agency license does not apply to any agency owned by, and operated under the name of, an individual licensed producer, so long as no other person, firm, or entity has any interest in, or affiliation with, the business of the individual producer or his/her agency. This type of agency would be considered a sole proprietorship.

No such agency shall be licensed under a name which is likely to lead a person of average intelligence to believe that the agency is an insurer, an agency of any government, or a club, fraternity, association, or social or military organization, or which is otherwise deceptive or misleading. Foreign corporations, limited partnerships and other entities required by law to be registered with the Secretary of State must be so registered before an agency license will be issued.

Only one license is required for each agency and a separate license is not required from branch office locations unless the agency has more than one FEIN number. As a reminder, at least one licensed producer is required before an agency license can be issued. Renewal for agency licenses is in January of even numbered years and requires a $40 renewal fee.

Any changes made within the agency that differs from the information on the initial agency application (i.e., name change, change in ownership, licensed producer, etc.) must be submitted, in writing, to the South Carolina Department of Insurance.