South Carolina Statutes
§ 38-19-20 — Contract shall stipulate membership of contract holder.
Each holder of an individual or group annuity contract or an individual or group contract of insurance, other than a contract of reinsurance, is a member of the insurer with the rights and obligations of membership as provided by this chapter. With respect to a group annuity contract or a contract of group insurance, the employer or other person to whom or in whose name the master contract is issued or held is considered the member. Each contract issued, individual or group, shall effectively stipulate this fact.
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South Carolina § 38-19-20 (Contract shall stipulate membership of contract holder.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-19-20 [1962 Code SECTION 37-822; 1971 (57) 1001] recodified as SECTION 38-31-20 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-11-220 [1947 (45) 322; 1952 Code SECTION 37-372; 1962 Code SECTION 37-372] recodified as SECTION 38-19-20 by 1987 Act No. 155, SECTION 1; 1988 Act No. 334, SECTION 2.
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.