South Carolina Statutes
§ 38-26-20 — Definitions.
As used in this chapter:
(1)"Insurer" means a person who has done, purports to do, is going to do, or is licensed to do an insurance business and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by the department, or similar entity, of a state. For purposes of this chapter, other persons included under Section 38-27-40 are considered insurers.
(2)"Exceed its powers" means the following conditions:
(a)The insurer has refused to permit examination of its books, papers, accounts, records, or affairs by the director or his deputies, designees, employees, or commissioned examiners.
(b)A domestic insurer unlawfully has removed from this State books, papers, accounts, or records necessary for an examination of the insu
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South Carolina § 38-26-20 (Definitions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1991 Act No. 13, SECTION 3; 1993 Act No. 181, SECTION 608.
Nearby Sections
10
§ 38-26-10
Short title.§ 38-26-100
No liability of Department or director.§ 38-26-110
Power to promulgate regulations.§ 38-26-20
Definitions.§ 38-26-30
Insurers to which chapter applies.§ 38-26-80
Other proceedings not precluded.§ 38-26-90
Meeting of director with supervisor.