South Carolina Statutes
§ 38-17-80 — Domestic corporations may exchange reciprocal or interinsurance contracts.
Any domestic corporation may, in addition to the rights, powers, and franchises specified in its articles of incorporation, exchange reciprocal or interinsurance insurance contracts. The right to exchange these contracts is incidental to the purposes for which domestic corporations are organized and is granted the same as rights and powers expressly conferred.
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South Carolina § 38-17-80 (Domestic corporations may exchange reciprocal or interinsurance contracts.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-17-80 [1962 Code SECTION 37-569; 1972 (57) 2776; 1977 Act No. 69 SECTION 3; 1980 Act No. 345, SECTION 2] recodified as SECTION 38-29-80 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-45-80 [1947 (45) 322; 1952 Code SECTION 37-808; 1962 Code SECTION 37-808] recodified as SECTION 38-17-80 by 1987 Act No. 155, SECTION 1.
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.