PREMIUM SERVICE COMPANIES INSTRUCTION SHEET
The laws that apply to Premium Service Companies can be found in the SC Code of Laws, Chapter 39 of the S.C. Codes of Law and Regulations 69-10.
Foreign and Domestic Company(s)
When filing as an application, every question must be answered. Where appropriate insert "none" or "not applicable." Before completing the application please read carefully Title 38, Chapter 39 relating to Insurance Premium Service Companies and 69-10 of S.C. Regulations. (See attached) Listed below are the materials needed to submit to receive a premium service certificate. Application completed Articles of Incorporation or Certificate of Domestication $500 license fee Audited Financial Statement (All applicant must have a net worth not less than twenty thousand $20,000 dollars) - personal assets not accepted Pledge a security bond or certificate of deposit of fifty thousand ($50,000) dollars. Under on circumstances with the Director of Insurance waive this requirement. Forms should be filed in duplicate: Insurance Premium Service Agreement Payment Book Notice of Overdue Payment (Intent to Cancel) Notice to Insurer that policy is financed Request for Cancellation
When filing as an application, every question must be answered. Where appropriate insert "none" or "not applicable."
Before completing the application please read carefully Title 38, Chapter 39 relating to Insurance Premium Service Companies and 69-10 of S.C. Regulations. (See attached)
Listed below are the materials needed to submit to receive a premium service certificate.
Application completed Articles of Incorporation or Certificate of Domestication $500 license fee Audited Financial Statement (All applicant must have a net worth not less than twenty thousand $20,000 dollars) - personal assets not accepted Pledge a security bond or certificate of deposit of fifty thousand ($50,000) dollars. Under on circumstances with the Director of Insurance waive this requirement.
Application completed
Articles of Incorporation or Certificate of Domestication
$500 license fee
Audited Financial Statement (All applicant must have a net worth not less than twenty thousand $20,000 dollars) - personal assets not accepted
Pledge a security bond or certificate of deposit of fifty thousand ($50,000) dollars. Under on circumstances with the Director of Insurance waive this requirement.
Forms should be filed in duplicate:
Insurance Premium Service Agreement Payment Book Notice of Overdue Payment (Intent to Cancel) Notice to Insurer that policy is financed Request for Cancellation
Insurance Premium Service Agreement
Payment Book
Notice of Overdue Payment (Intent to Cancel)
Notice to Insurer that policy is financed
Request for Cancellation
