South Carolina Code 38-48-120. Record retention
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Terms Used In South Carolina Code 38-48-120
- Adjuster: means an individual who determines the extent of insured losses and assists in settling or attempts to settle claims. See South Carolina Code 38-1-20
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Every public adjuster shall maintain all records of losses and claims adjusted for three years after the settlement or closing of each claim.