South Carolina § 38-5-140 Opportunity for hearing.

South Carolina Statutes

§ 38-5-140 — Opportunity for hearing.

South Carolina·Title 38 INSURANCE·Ch. 5 AUTHORITY AND REQUIREMENTS TO TRANSACT BUSINESS

Unless the grounds for revocation relate only to the financial condition or soundness of the insurer or to a deficiency in its assets, the director or his designee shall notify the insurer not less than thirty days before revoking its authority to do business in this State and he must specify in the notice the particulars of the alleged violation of the law or its charter or grounds for revocation and a proper opportunity must be offered the insurer to be heard.

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Unless the grounds for revocation relate only to the financial condition or soundness of the insurer or to a deficiency in its assets, the director or his designee shall notify the insurer not less than thirty days before revoking its authority to do business in this State and he must specify in the notice the particulars of the alleged violation of the law or its charter or grounds for revocation and a proper opportunity must be offered the insurer to be heard.

South Carolina § 38-5-140 (Opportunity for hearing.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-5-140 [1947 (45) 322; 1952 Code SECTION 37-110; 1957 (50) 92; 1962 Code SECTION 37-110] recodified as SECTION 38-5-110 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-170 [1947 (45) 322; 1952 Code SECTION 37-113; 1962 Code SECTION 37-113] recodified as SECTION 38-5-140 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 533.