S.C. Code § 38-15-40

Current through 2024 Act No. 225.

Section 38-15-40 - Effect of reduction in value of bonds deposited by surety

When the bonds required to be deposited by an insurer in Section 38-15-30 are reduced below the value of one hundred thousand dollars, except by unexpected fluctuation in value, the right of that insurer to do business in this State may be revoked or suspended.

1988 Act No. 386, Section 3; 1962 Code Section 37-606] recodified as Section 38-15-40 by 1987 Act No. 155, Section 1; 1952 Code Section 37-606; Former 1976 Code Section 38-13-60 [1947 (45) 322; 1962 Code Section 37-764] recodified as Section 38-19-860 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-15-40 [1960 (51) 1664.