The following are violations of Sections 38-21-60 to 38-21-120:
(1) the failure to file a statement, amendment, or other material required to be filed pursuant to Section 38-21-60 or 38-21-70; or
(2) the effectuation or an attempt to effectuate an acquisition or control of, divestiture of, or merger with a domestic insurer, unless the director or his designee has given his approval.
HISTORY: Former 1976 Code Section 38-29-120 [1962 Code Section 37-1410; 1971 (57) 351] recodified as Section 38-21-110 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 569; 2015 Act No. 2 (S.342), Section 7, eff March 9, 2015.
Effect of Amendment
2015 Act No. 2, Section 7, in (1), substituted "failure to file a statement" for "failure to file any statement"; and in (2), substituted "effectuation or an attempt" for "effectuation or any attempt", and inserted "divestiture of,".
Structure South Carolina Code of Laws
Chapter 21 - Insurance Holding Company Regulatory Act
Section 38-21-10. Definitions.
Section 38-21-20. Authority of insurers to organize or acquire subsidiaries.
Section 38-21-30. Authority of insurers to invest in securities of subsidiaries.
Section 38-21-40. Investments in securities of subsidiaries are not subject to other restrictions.
Section 38-21-70. Contents of statement; amendment.
Section 38-21-90. Approval of Commissioner of acquisition of control; hearing.
Section 38-21-100. Certain transactions exempt from Sections 38-21-60 to 38-21-120.
Section 38-21-110. Violations of Sections 38-21-60 to 38-21-120.
Section 38-21-120. Jurisdiction of courts; service of process.
Section 38-21-130. Registration of members of insurance holding company systems.
Section 38-21-140. Registration statement.
Section 38-21-150. Summary outlining changes since previous registration statement required.
Section 38-21-160. Information which need not be disclosed in registration statement.
Section 38-21-170. Dividends and distributions must be reported.
Section 38-21-180. Information from persons within insurance holding company.
Section 38-21-190. Termination of registration.
Section 38-21-210. Filing of registration statement on behalf of affiliated insurer.
Section 38-21-220. Disclaimer of affiliation.
Section 38-21-225. Annual enterprise risk report.
Section 38-21-230. Failure to timely file registration statement.
Section 38-21-240. Exemptions from registration statement provisions.
Section 38-21-250. Standards for transactions within insurance holding company system.
Section 38-21-260. Determining adequacy of insurer's surplus.
Section 38-21-270. Notice and approval of extraordinary dividends or distributions required.
Section 38-21-280. Examination; compulsory production of information.
Section 38-21-285. Participation in supervisory colleges.
Section 38-21-290. Confidential information.
Section 38-21-295. Group-wide supervisor for internationally active insurance groups.
Section 38-21-300. Regulations and orders of director.
Section 38-21-310. Enjoining violations of chapter, regulations, or orders.
Section 38-21-350. Director may take possession of property and conduct business of insurer.
Section 38-21-360. Authority of receiver to recover certain distributions and payments.
Section 38-21-370. Judicial review of action, order, or decision of director.