South Carolina Code of Laws
Title 38 - Insurance
Chapter 19 - Domestic Mutual Insurers

Section 38-19-10. Membership in mutual insurer. - Any person, government or governmental agency, state or political subdivision...

Section 38-19-20. Contract shall stipulate membership of contract holder. - Each holder of an individual or group annuity contract or...

Section 38-19-30. Organization, governance, and operation as domestic business corporations; applicability of Business Corporation Act. - (A) Except as otherwise provided by law, every domestic mutual...

Section 38-19-40. Notice of annual meetings. - Notice of the time and place of the annual meeting...

Section 38-19-50. Use of proxies. - (A) A member of a domestic mutual insurer may vote...

Section 38-19-60. Quorum for conduct of business at annual meeting; form and approval of voting proxies. - At any annual meeting of a domestic mutual insurer all...

Section 38-19-270. Dividends. - The directors of a domestic mutual insurer may apportion and...

Section 38-19-410. Contingent liability of members. - Each member of a domestic mutual insurer, except as otherwise...

Section 38-19-420. Contingent liability is not an asset of the insurer. - The contingent liability of members of a domestic mutual insurer...

Section 38-19-430. Validity of guaranty against liability. - No person may insure against or agree or promise any...

Section 38-19-440. Assessments for deficiencies. - If at any time the surplus of a domestic mutual...

Section 38-19-450. Computation of individual assessments. - A member's proportionate part of any deficiency is computed by...

Section 38-19-460. Enforcement of contingent liability on assessment premium plan. - The contingent liability of members of a domestic mutual insurer...

Section 38-19-470. Nonassessable policies. - A domestic mutual insurer, after it has established a surplus...

Section 38-19-480. Nonassessable plan applies to all policies. - The director or his designee may not authorize a domestic...

Section 38-19-490. Revocation of authority to issue nonassessable policies. - The director or his designee shall revoke the authority of...

Section 38-19-610. Borrowed surplus. - A domestic mutual insurer, with the advance approval of the...

Section 38-19-620. Loans may not be part of legal liabilities but must be reflected in financial statements. - Any money so borrowed may not form a part of...

Section 38-19-630. Repayment of loans. - The insurer may repay the loan only out of its...

Section 38-19-640. Repayment of more than one loan or by multiple agreement. - If there is more than one such loan or if...

Section 38-19-650. Director's approval required for repayment. - No repayment of the loan may be made unless approved...

Section 38-19-660. Rights of holders of loan upon dissolution. - Upon dissolution and liquidation of the insurer the holders of...

Section 38-19-815. Definitions. - For the purposes of this article: (1) "Bulk reinsurance and...

Section 38-19-825. Transactions of a mutual insurer. - (A) A mutual insurer may engage in any of the...

Section 38-19-1010. Fire and storm insurance; suits; seals. - The corporation Farmers Mutual Insurance Association of Newberry, S.C. shall...

Section 38-19-1020. Directors and officers; regulations. - The corporation may make by-laws, fixing the number of its...

Section 38-19-1030. Liability of members; property pledged; lien. - Every member of said corporation shall be, and is hereby,...

Section 38-19-1040. Extent of liability; release by transfer rights of purchaser. - All property insured by said corporation shall be liable as...

Section 38-19-1050. Limit of amount insurance. - The aggregate amount of insurance by said corporation shall not...

Section 38-19-1110. Authorization to reorganize. - A domestic or foreign mutual insurer may reorganize as a...

Section 38-19-1120. Transition to domestic mutual insurance holding company system; membership interests of policyholders. - (A) A domestic or foreign mutual insurer may reorganize into...

Section 38-19-1130. Plan of reorganization; approval; contents. - (A) A plan of reorganization must be approved by the...

Section 38-19-1140. Review of plan; costs; public hearing; order of approval or disapproval. - (A) The Director of the Department of Insurance shall review...

Section 38-19-1150. Policyholder meeting to vote on plan. - (A) After the date of the director's conditioned approval of...

Section 38-19-1160. Filing articles of incorporation; issuance of certificate of authority. - The reorganized insurer shall file the articles of incorporation of...

Section 38-19-1170. Membership interest as security; transfer of interest. - A membership interest in a mutual insurance holding company does...

Section 38-19-1180. Dividends and distributions; effect of adoption or implementation of plan of reorganization. - A mutual insurance holding company shall not be authorized to...

Section 38-19-1190. Demutualization. - Nothing contained in this article shall be construed to prohibit...

Section 38-19-1200. Confidentiality of information disclosed pursuant to application to reorganize. - All information, documents, and copies that are obtained by or...

Section 38-19-1210. Applicability of insurance laws; exemptions for entities not writing insurance; mergers; protection of policyholder interests; promulgation of regulations. - (A) A mutual insurance holding company, intermediate holding company, and...

Section 38-19-1220. Availability of assets to satisfy policyholder claims in proceedings for supervision, rehabilitation or liquidation; dissolution. - In a proceeding for supervision, rehabilitation, or liquidation involving a...

Section 38-19-1230. Filing of annual statements; audit; notice of stock offering. - (A) A mutual insurance holding company shall file with the...

Section 38-19-1240. Time limitation for filing challenge to reorganization. - A challenge to reorganization or an action involving the reorganization...