South Carolina § 38-5-150 Funds may not be paid during suspension without approval.

South Carolina Statutes

§ 38-5-150 — Funds may not be paid during suspension without approval.

South Carolina § 38-5-150

Title 38INSURANCE

Ch. 5AUTHORITY AND REQUIREMENTS TO TRANSACT BUSINESS

This text of South Carolina § 38-5-150 (Funds may not be paid during suspension without approval.) 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. § 38-5-150 (2026).

Text

While the certificate of authority is suspended, no domestic insurer or any of its officers may pay out any funds belonging to the insurer without first receiving the director's or his designee's approval.

Free access — add to your briefcase to read the full text and ask questions with AI

Legislative History

HISTORY: Former 1976 Code SECTION 38-5-150 [1947 (45) 322; 1952 Code SECTION 37-111; 1962 Code SECTION 37-111] has no comparable provisions in 1987 Act No. 155; Former 1976 Code SECTION 38-5-180 [1947 (45) 322; 1952 Code SECTION 37-114; 1962 Code SECTION 37-114] recodified as SECTION 38-5-150 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 533.