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 38-19-430 - Validity of guaranty against liability

S.C. Code § 38-19-430

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Current through 2024 Act No. 225.
Section 38-19-430 - Validity of guaranty against liability

No person may insure against or agree or promise any member of a domestic mutual insurer holding a policy which provides for contingent liability to save him harmless from the contingent liability or any assessment under the policy. Any insurance, agreement, or promise attempted of this nature is void.

S.C. Code § 38-19-430

1962 Code Section 37-403] recodified as Section 38-19-430 by 1987 Act No. 155, Section 1; 1952 Code Section 37-403; Former 1976 Code Section 38-11-630 [1947 (45) 322.