Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 38 - INSURANCEChapter 19 - DOMESTIC MUTUAL INSURERS
Article 5 - LIABILITY OF MEMBERS AND NONASSESSABLE POLICIES
Section 38-19-420 - Contingent liability is not an asset of the insurer

S.C. Code § 38-19-420

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Current through 2024 Act No. 209.
Section 38-19-420 - Contingent liability is not an asset of the insurer

The contingent liability of members of a domestic mutual insurer to assessment does not constitute an asset of the insurer in the determination of its financial condition.

S.C. Code § 38-19-420

1962 Code Section 37-402] recodified as Section 38-19-420 by 1987 Act No. 155, Section 1; 1952 Code Section 37-402; Former 1976 Code Section 38-11-620 [1947 (45) 322.