South Carolina § 38-25-160 Director may exempt insurer or other organization from provisions of chapter; certain requirements; discontinuance of exemption.

South Carolina Statutes

§ 38-25-160 — Director may exempt insurer or other organization from provisions of chapter; certain requirements; discontinuance of exemption.

South Carolina § 38-25-160

Title 38INSURANCE

Ch. 25UNAUTHORIZED TRANSACTION OF INSURANCE BUSINESS

This text of South Carolina § 38-25-160 (Director may exempt insurer or other organization from provisions of chapter; certain requirements; discontinuance of exemption.) 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. § 38-25-160 (2026).

Text

The director or his designee may, by regulation of the department or by his order, exempt from all or any provisions of this chapter an insurer or other organization not formed or operating for profit which affords life insurance or annuities to nonprofit educational and scientific institutions and their staff members in this State. However, in affording this exemption the director or his designee shall require the insurer or other organization to appoint the director as agent for service of process. The director or his designee may require the insurer or other organization to file with the department, as information, policy forms, annual statements, and financial and other similar material. The director or his designee may, after due notice and hearing, discontinue the exemption for any r

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The director or his designee may, by regulation of the department or by his order, exempt from all or any provisions of this chapter an insurer or other organization not formed or operating for profit which affords life insurance or annuities to nonprofit educational and scientific institutions and their staff members in this State. However, in affording this exemption the director or his designee shall require the insurer or other organization to appoint the director as agent for service of process. The director or his designee may require the insurer or other organization to file with the department, as information, policy forms, annual statements, and financial and other similar material. The director or his designee may, after due notice and hearing, discontinue the exemption for any reason which would have, if then existing or known, justified his refusal to afford the exemption when it was granted.

Legislative History

HISTORY: Former 1976 Code SECTION 38-53-30 [1975 (59) 127; 1976 Act No. 732 SECTION 8] recodified as SECTION 38-25-160 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 601. ARTICLE 5 Remedies and Penalties