South Carolina § 38-65-320 Termination of or refusal to renew policy issued on franchise or wholesale plan.

South Carolina Statutes

§ 38-65-320 — Termination of or refusal to renew policy issued on franchise or wholesale plan.

South Carolina·Title 38 INSURANCE·Ch. 65 GROUP LIFE INSURANCE

The right of the insurer to terminate or refuse to renew a life, term, or endowment insurance policy issued on the franchise or wholesale plan is limited to:

(1)nonpayment of premium;

(2)the insured has attained the age limit prescribed in the policy;

(3)the employee's employment in the eligible classes or the member's membership in the eligible association terminates;

(4)the insurer terminates or refuses to renew the insurance on all employees of a common employer or affiliated employers after sixty days' written notice;

(5)participation in the plan falls below any percentage or minimum number specified by the policy.

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The right of the insurer to terminate or refuse to renew a life, term, or endowment insurance policy issued on the franchise or wholesale plan is limited to: (1) nonpayment of premium; (2) the insured has attained the age limit prescribed in the policy; (3) the employee's employment in the eligible classes or the member's membership in the eligible association terminates; (4) the insurer terminates or refuses to renew the insurance on all employees of a common employer or affiliated employers after sixty days' written notice; (5) participation in the plan falls below any percentage or minimum number specified by the policy.

South Carolina § 38-65-320 (Termination of or refusal to renew policy issued on franchise or wholesale plan.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-31-120 [1962 Code SECTION 37-312.1; 1969 (56) 699] recodified as SECTION 38-65-320 by 1987 Act No. 155, SECTION 1.