South Carolina Code 38-19-1170. Membership interest as security; transfer of interest
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-19-1170
- insurance: includes annuities. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
A membership interest in a mutual insurance holding company does not constitute a security under the laws of the State of South Carolina. A membership interest in a mutual insurance holding company may not be transferred from the member to another person or entity.