South Carolina § 38-27-440 Collection and list of assets.

South Carolina Statutes

§ 38-27-440 — Collection and list of assets.

South Carolina § 38-27-440

Title 38INSURANCE

Ch. 27INSURERS' REHABILITATION AND LIQUIDATION ACT

This text of South Carolina § 38-27-440 (Collection and list of assets.) 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. § 38-27-440 (2026).

Text

(a)As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer's assets. The list must be amended or supplemented from time to time as the liquidator may determine. One copy must be filed in the office of the clerk of the circuit court and one copy must be retained for the liquidator's files. All amendments and supplements must be similarly filed.

(b)The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation.

(c)A submission to the court for disbursement of assets in accordance with SECTION 38-27-530 fulfills the requirements of subsection (a) of this Section.

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(a) As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer's assets. The list must be amended or supplemented from time to time as the liquidator may determine. One copy must be filed in the office of the clerk of the circuit court and one copy must be retained for the liquidator's files. All amendments and supplements must be similarly filed. (b) The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation. (c) A submission to the court for disbursement of assets in accordance with SECTION 38-27-530 fulfills the requirements of subsection (a) of this Section.