After May 31, 1978, an insurer may file with the department a written notice of its election to comply with the provisions of this article after a specified date before May 31, 1980. After the filing of the notice, upon the specified date, which is the operative date of this article for the insurer, this article becomes operative with respect to annuity contracts thereafter issued by the insurer. If an insurer makes no election, the operative date of this article for the insurer is May 31, 1980.
HISTORY: Former 1976 Code Section 38-8-120 [1978 Act No. 517 Section 12] recodified as Section 38-69-320 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 743.
Structure South Carolina Code of Laws
Chapter 69 - Individual Annuities
Section 38-69-10. Circulation of false or misleading information by insurers.
Section 38-69-20. Misrepresentations to induce termination or conversion of annuities.
Section 38-69-120. Requirements for certain annuities and pure endowment contracts.
Section 38-69-220. Exceptions from operation of article.
Section 38-69-240. Minimum forfeiture amounts for contracts issued before July 1, 2005.
Section 38-69-245. Minimum nonforfeiture amounts for contracts issued after June 30, 2007.
Section 38-69-247. Minimum nonforfeiture amounts for contracts issued after June 30, 2022.
Section 38-69-250. Paid-up annuity benefits; present value.
Section 38-69-260. Cash surrender benefits.
Section 38-69-270. Contracts not providing cash surrender benefits.
Section 38-69-280. Maturity date under certain contracts.
Section 38-69-290. Statements required in certain contracts.
Section 38-69-300. Calculating benefits available other than on anniversary date.
Section 38-69-310. Contracts providing annuity and insurance benefits.