South Carolina Code 38-17-40. Maximum liability of subscribers
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Terms Used In South Carolina Code 38-17-40
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
The maximum liability of any subscriber for losses and expenses must be fixed and determined by the power of attorney.