There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 38 - FRATERNAL BENEFIT SOCIETIES
Section 38-38-230 - Not-for-profit institutions for benefit of members.
SC Code § 38-38-230 (2012) What's This?
A society may create, maintain, and operate or may establish organizations to operate not-for-profit institutions to further the purposes permitted by Section 38-38-50(A)(2). These institutions may furnish services free or at a reasonable charge. Real or personal property owned, held, or leased by the society for this purpose must be reported in every annual statement but is not allowed as an admitted asset of the society.
HISTORY: 2000 Act No. 259, Section 1.
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