South Carolina § 38-81-240 Powers of association.

South Carolina Statutes

§ 38-81-240 — Powers of association.

South Carolina § 38-81-240

Title 38INSURANCE

Ch. 81LEGAL MALPRACTICE INSURANCE

This text of South Carolina § 38-81-240 (Powers of association.) 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. § 38-81-240 (2026).

Text

The association has the power on behalf of its members to:

(1)issue, or cause to be issued, policies of insurance to applicants including incidental coverages such as, but not limited to, premises or operations liability coverage on the premises where services are rendered, all subject to limits of liability as specified in the plan of operation but not to exceed five million dollars for all claimants under one policy in any one year;

(2)underwrite legal professional liability insurance and to adjust and pay losses with respect thereto or to appoint service companies to perform those functions;

(3)cede and assume reinsurance.

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The association has the power on behalf of its members to: (1) issue, or cause to be issued, policies of insurance to applicants including incidental coverages such as, but not limited to, premises or operations liability coverage on the premises where services are rendered, all subject to limits of liability as specified in the plan of operation but not to exceed five million dollars for all claimants under one policy in any one year; (2) underwrite legal professional liability insurance and to adjust and pay losses with respect thereto or to appoint service companies to perform those functions; (3) cede and assume reinsurance.