2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 27 - INSURERS' REHABILITATION AND LIQUIDATION ACT
SECTION 38-27-650. Termination of proceedings.
(a) When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be considered appropriate.
(b) Any other person may apply to the court at any time for an order under subsection (a) of this section. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.
HISTORY: Former 1976 Code Section 38-5-2350 [1982 Act No. 384, Section 46] recodified as Section 38-27-650 by 1987 Act No. 155, Section 1.
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