An unauthorized insurer who transacts any unauthorized act of an insurance business as set forth in Article 3 of this chapter may be fined not more than fifty thousand dollars.
S.C. Code Ann. § 38-25-320
Penalty for unauthorized insurers
Former 1976 Code SECTION 38-53-80 [1975 (59) 127] recodified as SECTION 38-25-320 by 1987 Act No. 155, SECTION 1; 1988 Act No. 374, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.