South Carolina Code 38-19-660. Rights of holders of loan upon dissolution
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 38-19-660
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
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.