Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 38 - INSURANCEChapter 19 - DOMESTIC MUTUAL INSURERS
Article 7 - BORROWING
Section 38-19-660 - Rights of holders of loan upon dissolution

S.C. Code § 38-19-660

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Current through 2024 Act No. 225.
Section 38-19-660 - Rights of holders of loan upon dissolution

Upon dissolution and liquidation of the insurer the holders of such loan agreements remaining unpaid after the retirement of all the insurer's other outstanding obligations are entitled to payment before any distribution may be made to the insurer's members.

S.C. Code § 38-19-660

1962 Code Section 37-426] recodified as Section 38-19-660 by 1987 Act No. 155, Section 1; 1952 Code Section 37-426; Former 1976 Code Section 38-11-860 [1947 (45) 322.