Home/South Carolina/Statutes/Title 38: INSURANCE/Ch. 5: AUTHORITY AND REQUIREMENTS TO TRANSACT BUSINESS/§ 38-5-40
South Carolina Statutes

§ 38-5-40 — Kinds of insurance for which life insurer may be licensed.

South Carolina·Title 38 INSURANCE·Ch. 5 AUTHORITY AND REQUIREMENTS TO TRANSACT BUSINESS
No life insurer may be licensed to write any other kinds of insurance listed in Section 38-5-30 except accident and health insurance. However, any life insurer licensed to transact other kinds of insurance immediately prior to March 18, 1964, shall continue to be so licensed if otherwise qualified.

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South Carolina § 38-5-40 (Kinds of insurance for which life insurer may be licensed.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-5-40 [1962 Code SECTION 37-109.2; 1964 (53) 2051] recodified as SECTION 38-5-50 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-30 [1962 Code SECTION 37-109.1; 1964 (53) 2051] recodified as SECTION 38-5-40 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 533.

Nearby Sections

15
§ 38-5-10
Insurers must be licensed and supervised; exceptions.
§ 38-5-100
Foreign or alien insurers with names identical with or similar to others not qualified.
§ 38-5-110
Approval of charters or amendments of charter.
§ 38-5-120
Revocation or suspension of certificate of authority; publication of notice; hearing.
§ 38-5-130
Monetary penalty in lieu of license revocation or suspension.
§ 38-5-140
Opportunity for hearing.
§ 38-5-150
Funds may not be paid during suspension without approval.
§ 38-5-160
Injunction, receivership.
§ 38-5-170
Continuation of certificate of authority and other approvals pertaining to foreign insurer transferring its corporate domicile by merger or consolidation.
§ 38-5-180
Authority required for insurer to operate in State.
§ 38-5-190
Copy and reproduction of records; effect and admissibility into evidence of printed reproduction.
§ 38-5-20
Certain charitable, religious, and other corporations authorized to issue annuities or pay lump-sum benefits without being subject to insurance laws.
§ 38-5-200
Required use of particular insurance premium finance company or other installment plan prohibited; other prohibited acts.
§ 38-5-30
Kinds of insurance for which an insurer may be licensed.
§ 38-5-40
Kinds of insurance for which life insurer may be licensed.
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