S.C. Code Ann. § 38-92-150: Public adjusters; fiduciary funds; escrow or trust account; in-state depository.

A public adjuster who receives, accepts, or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, must deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government and such account must be maintained in this State.