Upon the withdrawal of any insurance carrier that has any outstanding liability under this title from doing business in this State the Director of the Department of Insurance shall immediately notify the commission and thereupon the commission shall issue an award against such insurance carrier and commute the installments due any injured employee and immediately have such award docketed in the court of common pleas of the county in which the claimant resides and the commission shall then cause suit to be brought on such judgment in the state of the residence of any such insurance carrier and the proceeds from such judgment, after deducting costs, if any, of the proceeding, shall be turned over to the injured employee, taking from such employee a proper receipt in satisfaction of his claim.
HISTORY: 1962 Code Section 72-413; 1952 Code Section 72-413; 1942 Code Section 7035-76; 1936 (39) 1231; 1937 (40) 613; 1960 (51) 1646.
Structure South Carolina Code of Laws
Title 42 - Workers' Compensation
Chapter 5 - Insurance And Self-insurance
Section 42-5-10. Employer shall secure payment of compensation; extent of liability.
Section 42-5-20. Insurance or proof of financial ability to pay required; self-insurer prohibited.
Section 42-5-30. Employer shall file evidence of compliance with Title.
Section 42-5-40. Penalty for failure to secure payment of compensation.
Section 42-5-45. Penalty for failure of employer to secure payment of compensation.
Section 42-5-50. Certificate of compliance.
Section 42-5-60. Insurance deemed subject to title; approval of forms.
Section 42-5-70. Clauses required in insurance contracts.
Section 42-5-80. Liability of insurer.
Section 42-5-130. Procedure upon withdrawal of carrier from State.
Section 42-5-190. Tax on self-insurers.
Section 42-5-210. Insurance carrier subrogated to rights of employer.
Section 42-5-220. Compromises by carrier must be approved.
Section 42-5-230. Manner in which notice to insurance carrier given.
Section 42-5-250. Title not applicable to insurance for single catastrophe hazards.