There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 17 - RECIPROCAL INSURANCE
Section 38-17-120 - Disposition of funds advanced to make up deficiencies.
SC Code § 38-17-120 (2012) What's This?
When funds other than those which have accrued from premiums or deposits of subscribers are supplied to make up a deficiency as provided in Section 38-17-100, they must be deposited and held for the benefit of subscribers under any terms and conditions the director or his designee may require as long as a deficiency exists and thereafter returned to the depositors.
HISTORY: Former 1976 Code Section 38-17-120 [1962 Code Section 37-573; 1972 (57) 2776] recodified as Section 38-29-120 by 1987 Act No. 155, Section 1; Former 1976 CodeSection 38-45-120 [1947 (45) 322; 1952 Code Section 37-812; 1962 Code Section 37-812] recodified as Section 38-17-120 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 547.
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