Terms Used In South Carolina Code 38-38-230

  • Personal property: All property that is not real property.
  • Society: means fraternal benefit society, unless otherwise indicated. See South Carolina Code 38-38-40
A society may create, maintain, and operate or may establish organizations to operate not-for-profit institutions to further the purposes permitted by § 38-38-50(A)(2). These institutions may furnish services free or at a reasonable charge. Real or personal property owned, held, or leased by the society for this purpose must be reported in every annual statement but is not allowed as an admitted asset of the society.