South Carolina Statutes
§ 38-13-90 — Publication of assets and liabilities.
No insurer may publish a statement of its assets and liabilities unless it shows both its assets and liabilities with equal conspicuousness. The statement shall reflect the assets and liabilities as were shown on the last annual statement or subsequent report of examination accepted by the director or his designee unless the director or his designee has given prior written approval to the publishing of a statement as of another date. Any publication purporting to show the capital of the insurer shall exhibit only the amount of capital actually paid in. An insurer or agent violating this section is subject to the penalties provided in Section 38-2-10.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-13-90 [1947 (45) 322; 1952 Code SECTION 37-609; 1962 Code SECTION 37-609] recodified as SECTION 38-15-70 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-1310 [1947 (45) 322; 1952 Code SECTION 37-289; 1958 (50) 1607; 1960 (51) 1646; 1962 Code SECTION 37-289] recodified as SECTION 38-13-90 by 1987 Act No. 155, SECTION 1; 1988 Act No. 374, SECTION 6; 1993 Act No. 181, SECTION 537.
Nearby Sections
15
§ 38-13-1000
Purpose; construction; application.§ 38-13-1010
Definitions.§ 38-13-1030
Rules, regulations, and orders.§ 38-13-1040
Discretion over responses to inquiries; examination of documentation and supporting information.§ 38-13-1060
Retention of third-party consultants.§ 38-13-1070
Penalties.§ 38-13-1080
Effective date of this article.§ 38-13-130
Records of losses and claims.