South Carolina Statutes
§ 38-38-230 — Not-for-profit institutions for benefit of members.
A society may create, maintain, and operate or may establish organizations to operate not-for-profit institutions to further the purposes permitted by Section 38-38-50(A)(2). These institutions may furnish services free or at a reasonable charge. Real or personal property owned, held, or leased by the society for this purpose must be reported in every annual statement but is not allowed as an admitted asset of the society.
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South Carolina § 38-38-230 (Not-for-profit institutions for benefit of members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 259, SECTION 1.
Nearby Sections
15
§ 38-38-10
Fraternal benefit society defined.§ 38-38-110
Membership provisions in bylaws or rules.§ 38-38-140
Waiver of bylaw provisions.§ 38-38-220
Amendment of bylaws; notice to director.§ 38-38-240
Reinsurance.§ 38-38-260
Reorganization into mutual life insurer.