When filing the declaration provided for in Section 38-17-30, the attorney shall also file with the department a written instrument executed by him for the subscribers stipulating that upon the issuance of a certificate of authority provided for in Section 38-17-70 service of process may be had upon the director in all suits in this State arising out of the policies, contracts, or agreements and that this service is valid and binding upon all subscribers exchanging at any time reciprocal or interinsurance contracts through the attorney.
HISTORY: Former 1976 Code Section 38-17-60 [1962 Code Section 37-567; 1972 (57) 2776] recodified as Section 38-29-60 by 1987 act No. 155, Section 1; Former 1976 Code Section 38-45-60 [1947 (45) 322; 1952 Code Section 37-806; 1962 Code Section 37-806] recodified as Section 38-17-60 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 544.
Structure South Carolina Code of Laws
Chapter 17 - Reciprocal Insurance
Section 38-17-10. Subscribers authorized to exchange reciprocal or interinsurance contracts.
Section 38-17-30. Verified declaration to be filed with Director.
Section 38-17-40. Maximum liability of subscribers.
Section 38-17-50. Deposit of securities.
Section 38-17-60. Director shall be appointed agent for service of process on exchanges.
Section 38-17-70. Annual certificate of authority.
Section 38-17-80. Domestic corporations may exchange reciprocal or interinsurance contracts.
Section 38-17-90. Maximum indemnity on fire risk; statement required.
Section 38-17-100. Maintenance of assets and guaranty fund.
Section 38-17-110. "Net annual advance premiums or deposits" defined.
Section 38-17-120. Disposition of funds advanced to make up deficiencies.
Section 38-17-130. Exchanges may sue and be sued.
Section 38-17-140. Exchanges subject to examinations.
Section 38-17-150. Annual report of business.
Section 38-17-160. Fees, taxes, and bond of attorney.
Section 38-17-170. Violations of chapter; conditional permit to organize.