South Carolina Statutes
§ 38-19-420 — Contingent liability is not an asset of the insurer.
South Carolina § 38-19-420
This text of South Carolina § 38-19-420 (Contingent liability is not an asset of the insurer.) 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. § 38-19-420 (2026).
Text
The contingent liability of members of a domestic mutual insurer to assessment does not constitute an asset of the insurer in the determination of its financial condition.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-11-620 [1947 (45) 322; 1952 Code SECTION 37-402; 1962 Code SECTION 37-402] recodified as SECTION 38-19-420 by 1987 Act No. 155, 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 § 38-19-420, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/19/38-19-420.