South Carolina Statutes
§ 38-19-1170 — Membership interest as security; transfer of interest.
South Carolina § 38-19-1170
This text of South Carolina § 38-19-1170 (Membership interest as security; transfer of interest.) 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. § 38-19-1170 (2026).
Text
A membership interest in a mutual insurance holding company does not constitute a security under the laws of the State of South Carolina. A membership interest in a mutual insurance holding company may not be transferred from the member to another person or entity.
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Legislative History
HISTORY: 1998 Act No. 413, SECTION 1.
Nearby Sections
15
§ 38-19-10
Membership in mutual insurer.§ 38-19-1010
Fire and storm insurance; suits; seals.§ 38-19-1020
Directors and officers; regulations.§ 38-19-1030
Liability of members; property pledged; lien.§ 38-19-1050
Limit of amount insurance.§ 38-19-1110
Authorization to reorganize.§ 38-19-1120
Transition to domestic mutual insurance holding company system; membership interests of policyholders.§ 38-19-1130
Plan of reorganization; approval; contents.§ 38-19-1150
Policyholder meeting to vote on plan.§ 38-19-1180
Dividends and distributions; effect of adoption or implementation of plan of reorganization.§ 38-19-1190
Demutualization.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-19-1170, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/19/38-19-1170.