2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 65 - GROUP LIFE INSURANCE
SECTION 38-65-320. Termination of or refusal to renew policy issued on franchise or wholesale plan.
The right of the insurer to terminate or refuse to renew a life, term, or endowment insurance policy issued on the franchise or wholesale plan is limited to:
(1) Nonpayment of premium.
(2) The insured has attained the age limit prescribed in the policy.
(3) The employee's employment in the eligible classes or the member's membership in the eligible association terminates.
(4) The insurer terminates or refuses to renew the insurance on all employees of a common employer or affiliated employers after sixty days' written notice.
(5) Participation in the plan falls below any percentage or minimum number specified by the policy.
HISTORY: Former 1976 Code Section 38-31-120 [1962 Code Section 37-312.1; 1969 (56) 699] recodified as Section 38-65-320 by 1987 Act No. 155, Section 1.
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