South Carolina Statutes
§ 38-17-120 — Disposition of funds advanced to make up deficiencies.
South Carolina § 38-17-120
This text of South Carolina § 38-17-120 (Disposition of funds advanced to make up deficiencies.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 38-17-120 (2026).
Text
When funds other than those which have accrued from premiums or deposits of subscribers are supplied to make up a deficiency as provided in Section 38-17-100, they must be deposited and held for the benefit of subscribers under any terms and conditions the director or his designee may require as long as a deficiency exists and thereafter returned to the depositors.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-17-120 [1962 Code SECTION 37-573; 1972 (57) 2776] recodified as SECTION 38-29-120 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-45-120 [1947 (45) 322; 1952 Code SECTION 37-812; 1962 Code SECTION 37-812] recodified as SECTION 38-17-120 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 547.
Nearby Sections
15
§ 38-17-100
Maintenance of assets and guaranty fund.§ 38-17-130
Exchanges may sue and be sued.§ 38-17-140
Exchanges subject to examinations.§ 38-17-150
Annual report of business.§ 38-17-160
Fees, taxes, and bond of attorney.§ 38-17-40
Maximum liability of subscribers.§ 38-17-50
Deposit of securities.§ 38-17-70
Annual certificate of authority.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-17-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/17/38-17-120.