There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 5 - AUTHORITY AND REQUIREMENTS TO TRANSACT BUSINESS
Section 38-5-50 - Certain insurers may not be licensed to write life insurance.
SC Code § 38-5-50 (2012) What's This?
No insurer licensed to write any of the kinds of insurance listed in items (c), (d), (e), (f), (g), and (h) of Section 38-5-30 may be licensed to write life insurance. However, any life insurer licensed to transact other kinds of insurance immediately prior to March 18, 1964, shall continue to be so licensed if otherwise qualified.
HISTORY: Former 1976 Code Section 38-5-50 [1947 (45) 322; 1952 Code Section 37-102; 1962 Code Section 37-102] recodified as Section 38-5-80 and Section 38-5-90 by 1987 Act No. 155 Section 1; Former 1976 Code Section 38-5-40 [1962 Code Section 37-109.2; 1964 (53) 2051] recodified as Section 38-5-50 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
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