S.C. Code § 38-29-140

Current through 2024 Act No. 225.

Section 38-29-140 - Examination and regulation of Association; annual reports

The association is subject to examination and regulation by the department. The board of directors shall annually submit to the department, by May first, a financial report for the preceding calendar year in a form approved by the director or his designee and a report of its activities during the preceding calendar year.

S.C. Code § 38-29-140

Amended by 2020 S.C. Acts, Act No. 121 (SB 580),s 1, eff. 3/24/2020.

1993 Act No. 181, Section 631; 1972 (57) 2776] recodified as Section 38-29-140 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-17-140 [1962 Code Section 37-575; 1986 Act No. 426, Section 8] recodified as Section 38-21-130 by 1987 Act No. 155, Section 1; 1971 (57) 351; Former 1976 Code Section 38-29-140 [1962 Code Section 37-1412.

2020 Act No. 121, Section 1.B, provides as follows:

"[1.]B. The amendments made by this act do not apply to a member insurer that has been placed under an order of rehabilitation or liquidation before July 1, 2020."