There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 19 - DOMESTIC MUTUAL INSURERS
Section 38-19-1170 - Membership interest as security; transfer of interest.
SC Code § 38-19-1170 (2012) What's This?
A membership interest in a mutual insurance holding company does not constitute a security under the laws of the State of South Carolina. A membership interest in a mutual insurance holding company may not be transferred from the member to another person or entity.
HISTORY: 1998 Act No. 413, Section 1.
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