S.C. Code § 38-17-80

Current through 2024 Act No. 225.

Section 38-17-80 - Domestic corporations may exchange reciprocal or interinsurance contracts

Any domestic corporation may, in addition to the rights, powers, and franchises specified in its articles of incorporation, exchange reciprocal or interinsurance insurance contracts. The right to exchange these contracts is incidental to the purposes for which domestic corporations are organized and is granted the same as rights and powers expressly conferred.

1962 Code Section 37-808] recodified as Section 38-17-80 by 1987 Act No. 155, Section 1; 1952 Code Section 37-808; Former 1976 Code Section 38-45-80 [1947 (45) 322; 1980 Act No. 345, Section 2] recodified as Section 38-29-80 by 1987 Act No. 155, Section 1; 1977 Act No. 69 Section 3; 1972 (57) 2776; Former 1976 Code Section 38-17-80 [1962 Code Section 37-569.