South Carolina § 38-10-60 Conservation, rehabilitation, or liquidation; amount recoverable by receiver.

South Carolina Statutes

§ 38-10-60 — Conservation, rehabilitation, or liquidation; amount recoverable by receiver.

South Carolina·Title 38 INSURANCE·Ch. 10 PROTECTED CELL INSURANCE COMPANIES

(A)Notwithstanding any other provision of law or regulation, upon an order of conservation, rehabilitation, or liquidation of a protected cell company, the receiver shall deal with the protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, in accordance with the requirements set forth in this chapter.

(B)With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver may not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding any provisions to the contrary in the contracts or other documentation governing the protected cell company insurance securi

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(A) Notwithstanding any other provision of law or regulation, upon an order of conservation, rehabilitation, or liquidation of a protected cell company, the receiver shall deal with the protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, in accordance with the requirements set forth in this chapter. (B) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver may not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding any provisions to the contrary in the contracts or other documentation governing the protected cell company insurance securitization.

South Carolina § 38-10-60 (Conservation, rehabilitation, or liquidation; amount recoverable by receiver.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.