South Carolina Statutes
§ 38-17-120 — Disposition of funds advanced to make up deficiencies.
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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South Carolina § 38-17-120 (Disposition of funds advanced to make up deficiencies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.