South Carolina Statutes
§ 38-17-50 — Deposit of securities.
The director or his designee shall require every reciprocal exchange to provide security deposits pursuant to Sections 38-9-80 to 38-9-140 as required for other insurers doing business in this State.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-17-50 [1962 Code SECTION 37-566; 1972 (57) 2776] recodified as SECTION 38-29-50 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-45-50 [1947 (45) 322; 1952 Code SECTION 37-805; 1962 Code SECTION 37-805; 1964 (53) 2054] recodified as SECTION 38-17-50 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 543.
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.