Terms Used In South Carolina Code > Title 16 > Chapter 3
- Accident and health insurance: means insurance of human beings against death or personal injury by accident, and each insurance of human beings against sickness, ailment, and any type of physical disability resulting from accident or disease, and prepaid dental service, but not including coverages required by the Workers' Compensation Law of this State. See South Carolina Code 38-1-20
- Accommodation bondsman: means a person who has reached the age of eighteen years, is a resident of this State, who, aside from love and affection and release of the person concerned, receives no consideration for action as surety, and who endorses the bail bond after providing satisfactory evidence of ownership, value, and marketability of real property to the extent necessary to reasonably satisfy the official taking bond that the real or personal property will in all respects be sufficient to assure that the full principal sum of the bond will be realized in the event of breach of the conditions of the bond. See South Carolina Code 38-53-10
- Account: means any of the three accounts created under Section 38-29-50. See South Carolina Code 38-29-20
- Account: means any one of the four accounts created by Section 38-31-40. See South Carolina Code 38-31-20
- Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
- A verdict of "not guilty."
- Actuary: means a person who is a member in good standing of the American Academy of Actuaries. See South Carolina Code 38-44-20
- Actuary: means a person who is a member in good standing of the American Academy of Actuaries. See South Carolina Code 38-46-20
- Adjuster: means an individual who determines the extent of insured losses and assists in settling or attempts to settle claims. See South Carolina Code 38-1-20
- administrator: means any person who collects charges or premiums from, or who adjusts or settles claims on, residents of this State in connection with life or health insurance coverage or annuities other than:
(1) an employer on behalf of its employees or the employees of one or more subsidiaries or affiliated corporations of an employer;
(2) a union on behalf of its members;
(3) an insurer which is either licensed in this State or acting as an insurer with respect to a policy lawfully issued and delivered by it pursuant to the laws of a state in which the insurer was authorized to do insurance business, or a health maintenance organization licensed in this State;
(4) a life or health agent or broker licensed in this State whose activities are limited exclusively to the sale of insurance;
(5) a creditor on behalf of its debtors with respect to insurance covering a debt between the creditor and its debtors;
(6) a trust, its trustees, agents, and employees acting thereunder, established in conformity with 29 U. See South Carolina Code 38-51-10
- Administrator: means the administrator of the South Carolina Department of Consumer Affairs. See South Carolina Code 37-17-20
- Administrator: means the State Treasurer, his agents, or representatives. See South Carolina Code 27-18-20
- Admitted assets: means assets of an insurer considered admitted on the most recent statutory financial statement of the insurer filed with the department pursuant to Section 38-13-80. See South Carolina Code 38-1-20
- Admitted insurer: means an insurer licensed to do business in this State. See South Carolina Code 38-1-20
- Admitted insurer: means an insurer licensed to engage in the business of insurance in this State. See South Carolina Code 38-45-10
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Affiliate: means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with an insolvent insurer on December thirty-first of the year next preceding the date the insurer becomes an insolvent insurer. See South Carolina Code 38-31-20
- Affiliate of the insolvent insurer: means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with an insolvent insurer on December thirty-first of the year next preceding the date the insurer becomes an insolvent insurer. See South Carolina Code 38-31-20
- Affiliated group: means any group of entities that are all affiliated. See South Carolina Code 38-45-10
- Affordable housing: means residential housing that, so long as the same is occupied by lower or very low income households, requires payment of monthly housing costs of no more than thirty percent of one-twelfth adjusted annual income. See South Carolina Code 31-13-410
- Alien insurer: means an insurer incorporated or organized under the laws of a country other than the United States of America, its states, commonwealths, territories, or insular possessions. See South Carolina Code 38-1-20
- Allegation: something that someone says happened.
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Amortization: Paying off a loan by regular installments.
- Annual income: means the anticipated total income from all sources received by the family head and spouse and by each additional member of the household, including all net income derived from assets. See South Carolina Code 31-13-410
- Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
- Annuity: means each contract or agreement to make periodic payments, whether in fixed or variable dollar amounts, or both, at specified intervals. See South Carolina Code 38-1-20
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Applicant: means :
(a) in the case of an individual long term care insurance policy the person who seeks to contract for benefits; and
(b) in the case of a group long term care insurance policy, the proposed certificate holder. See South Carolina Code 38-72-40
- Appointment: means an individual designated by an official or authorized representative of an authorized insurer to act on its behalf as a producer. See South Carolina Code 38-1-20
- Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Area of operations: means the entirety of the areas that comprise Federal Reserve Districts Five and Six as the geographic area in which the corporation is authorized to transact business pursuant to this chapter. See South Carolina Code 33-37-10
- Arrest: Taking physical custody of a person by lawful authority.
- Assessment lien: means :
(a) a lien for delinquent assessments as to timeshare estates; or
(b) a lien for unpaid taxes and special assessments. See South Carolina Code 27-32-310
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the South Carolina Life and Accident and Health Insurance Guaranty Association created under Section 38-29-50. See South Carolina Code 38-29-20
- Association: means the South Carolina Property and Casualty Insurance Guaranty Association created under Section 38-31-40. See South Carolina Code 38-31-20
- association: means an entity developed to manage and maintain a planned community or horizontal property regime for which there is a declaration requiring a person, by virtue of his ownership of a separate property within the planned community or horizontal property regime, to pay assessments for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements and other real estate described in that declaration. See South Carolina Code 27-30-120
- Association similar to the association: means any guaranty association, security fund, or other insolvency mechanism which affords protection similar to that of the association. See South Carolina Code 38-31-20
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Attorney General: means the chief legal officer of this State. See South Carolina Code 27-18-20
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Authority: means the South Carolina State Housing, Finance, and Development Authority created by Act 500 of 1971. See South Carolina Code 31-13-170
- Authority: means the South Carolina State Housing Finance and Development Authority. See South Carolina Code 31-13-410
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Bail bond: means an undertaking by the defendant to appear in court as required upon penalty of forfeiting bail to the State in a stated amount and may include an unsecured appearance bond, a premium-secured appearance bond, an appearance bond secured by a cash deposit of the full amount of the bond, an appearance bond secured by a mortgage, and an appearance bond secured by at least one surety. See South Carolina Code 38-53-10
- Bail bondsman: means a surety bondsman, professional bondsman, or an accommodation bondsman as defined in this chapter. See South Carolina Code 38-53-10
- Bail bondsman: means as defined in Section 38-53-10. See South Carolina Code 38-1-20
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Basic health care services: means emergency care, inpatient hospital and physician care, and outpatient medical services. See South Carolina Code 38-33-20
- Bench trial: Trial without a jury in which a judge decides the facts.
- Beneficial owner: when used in this chapter, means a person who directly or indirectly beneficially owns more than ten percent of any class of any equity security of a domestic stock insurer. See South Carolina Code 38-23-30
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- beneficiary classes: means the class consisting of persons and families of low income and the class consisting of persons and families of moderate to low income. See South Carolina Code 31-13-170
- Bequest: Property gifted by will.
- Board: means the Board of Commissioners of the South Carolina State Housing Finance and Development Authority. See South Carolina Code 31-13-410
- Board of directors: means the board of directors of the corporation created pursuant to this chapter. See South Carolina Code 33-37-10
- Business: means a corporation, partnership, proprietorship, firm, enterprise, franchise, organization, or self-employed individual. See South Carolina Code 16-3-2010
- Business association: means a nonpublic corporation, joint stock company, investment company, business trust, partnership, or association for business purposes of two or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility. See South Carolina Code 27-18-20
- Buyer: means a purchaser of a motor vehicle under the terms of a retail installment contract. See South Carolina Code 37-13-10
- Casualty insurance: means each insurance against legal liability of the insured for bodily injury to or death of another person, including workers' compensation insurance, and for damages to or loss or destruction of the property of another person; medical payments insurance when written in conjunction with insurance covering liability for the deaths or bodily injuries of another person; guaranteeing the fidelity of a person holding a position of public or private trust; loss of or damage to property caused by burglary, theft, larceny, robbery, fraud, or unlawful taking or secretion of property owned by or entrusted to the insured; loss of or damage to property of the insured resulting from the explosion of or damage to a fired or unfired boiler or other pressure vessel, engine, turbine, compressor, pump, wheel, or an apparatus generating, transmitting, or using electric power, and machinery or equipment connected with any of them; loss resulting from nonpayment of debts owed to merchants or another person extending credit. See South Carolina Code 38-1-20
- Certificate: means a renewable certificate of registration granted by the director or his designee to a private review agent, authorizing the agent to perform utilization review activities in this State for two years. See South Carolina Code 38-70-10
- Certificate: means any certificate issued under a group long term care insurance policy, which policy has been delivered or issued for delivery in this State. See South Carolina Code 38-72-40
- Certificate of insurance: means a memorandum copy, complete or abbreviated, of an insurance contract. See South Carolina Code 38-1-20
- Chambers: A judge's office.
- Charitable organization: means a charitable organization pursuant to Section 33-56-20. See South Carolina Code 16-3-2010
- Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
- Claim of lien: means a claim of a recorded assessment lien. See South Carolina Code 27-32-310
- Claimant: means any insured making a first party claim or any person instituting a liability claim. See South Carolina Code 38-31-20
- Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
- Coinsurance: means a stipulation or requirement that the insured undertakes to be his own insurer to the extent that he fails to maintain insurance of a given percentage of the value of the property against loss or damage. See South Carolina Code 38-1-20
- Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
- Commission: means the South Carolina Real Estate Commission. See South Carolina Code 27-50-10
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Company: 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
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Consent: means agreement to administrative supervision by the insurer. See South Carolina Code 38-26-20
- Consumer: means consumer as defined in Section 37-1-301(10). See South Carolina Code 37-7-101
- Consumer: means a natural person who is the object of a telephone solicitation. See South Carolina Code 37-21-20
- Continuance: Putting off of a hearing ot trial until a later time.
- Continuing care contract: means a contract to provide board or lodging together with nursing, medical, or other health-related services:
(a) to a person sixty-five years of age or older at the time the contract is signed or purchased; or
(b) which provides for services for the life of the person or for more than one year, including mutually terminable contracts; and
(c) which requires payment of an entrance fee or other fee in return for a promise of future care. See South Carolina Code 37-11-20
- Continuing care retirement community: means a community in which there is furnished, pursuant to a continuing care contract, to two or more persons not related to the administrator or owner of the facility within the third degree of consanguinity, board or lodging together with nursing, medical, or other health-related services, regardless of whether the services or lodging are provided at the same location or not. See South Carolina Code 37-11-20
- Contract: A legal written agreement that becomes binding when signed.
- Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See South Carolina Code 38-31-20
- Control: means :
(a) the entity directly or indirectly or acting through one or more other persons owns, controls, or has the power to vote twenty-five percent or more of any class of voting securities of the other entity; or
(b) the entity controls in any manner the election of a majority of the directors or trustees of the other entity. See South Carolina Code 38-45-10
- Controlling person: means a person, a firm, an association, or a corporation who directly or indirectly has power to direct or cause to be directed the management, control, or activities of the reinsurance intermediary. See South Carolina Code 38-46-20
- conversion of rental units to condominium ownership: means the establishment of a horizontal property regime encompassing a preexisting building which, at anytime prior to the recording of the master deed or master lease, was wholly or partially occupied by persons as their residence on a permanent or at least a continuing basis other than persons who, at the time of such recording, had contractual rights to acquire condominium ownership within the building. See South Carolina Code 27-31-410
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a South Carolina business development corporation created pursuant to this chapter. See South Carolina Code 33-37-10
- Corporation: means a county business development corporation created under this chapter;
(2) "Financial institution" means any banking corporation or trust company, building and loan association, insurance company or related corporation, partnership, foundation or other institution engaged primarily in lending or investing funds;
(3) "Member" means any financial institution authorized to do business within this State which shall undertake to lend money to a corporation created under this chapter, upon its call, and in accordance with the provisions of this chapter;
(4) "Board of directors" means the board of directors of the corporation created under this chapter; and
(5) "Loan limit" means, for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation as determined under the provisions of this chapter. See South Carolina Code 33-39-10
- Counterclaim: A claim that a defendant makes against a plaintiff.
- County: means any county in the State. See South Carolina Code 31-13-170
- Court: includes every court and judge having jurisdiction in the case;
(2) "Business" includes every trade, occupation, or profession;
(3) "Bankrupt" includes a bankrupt under the Federal Bankruptcy Act or an insolvent under any state insolvent act;
(4) "Conveyance" includes every assignment, lease, mortgage, or encumbrance;
(5) "Real property" includes land and any interest or estate in land; and
(6) "Registered limited liability partnership" includes a partnership formed pursuant to an agreement governed by the laws of this State, registered under Section 33-41-1110 and complying with Sections 33-41-1120 and 33-41-1130. See South Carolina Code 33-41-20
- Covered claim: means an unpaid claim, including one of unearned premiums, which arises out of and is within the coverage and is subject to the applicable limits of an insurance policy to which this chapter applies issued by an insurer, if the insurer is an insolvent insurer and (a) the claimant or insured is a resident of this State at the time of the insured event, if for entities other than an individual, the residence of a claimant or insured is the state in which its principal place of business is located at the time of the insured event or (b) the claim is for first-party benefits for damage to property permanently located in this State. See South Carolina Code 38-31-20
- Covered policy: means any policy or contract within the scope of Section 38-29-40. See South Carolina Code 38-29-20
- Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC
- Credit counseling organization: means a person providing or offering to provide to consumers credit counseling services for a fee, compensation, or gain, or in the expectation of a fee, compensation, or gain, including debt management plans. See South Carolina Code 37-7-101
- Credit counseling service: means :
(a) receiving or offering to receive funds from a consumer for the purpose of distributing the funds among the consumer's creditors in full or partial payment of the consumer's debts;
(b) improving or offering to improve a consumer's credit record, history, or rating;
(c) negotiating or offering to negotiate to defer or reduce a consumer's obligations with respect to credit extended by others. See South Carolina Code 37-7-101
- Credit counselor: means an employee or agent of a credit counseling organization engaging in services described in item (3). See South Carolina Code 37-7-101
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
- Creditor: means the person who grants credit in a consumer credit transaction or, except as otherwise provided, an assignee of a creditor's right to payment, but the term does not in itself impose on an assignee an obligation of his assignor. See South Carolina Code 37-7-101
- Criminal offense: means an offense against the person of an individual when physical or psychological harm occurs, or the property of an individual when the value of the property stolen or destroyed, or the cost of the damage to the property is in excess of one thousand dollars. See South Carolina Code 16-3-1510
- Crop insurance: includes insurance providing protection against damage to crops from unfavorable weather conditions, fire, lightning, flood, hail, insect infestation, disease, or other yield-reducing conditions or perils provided by the private insurance market, or that is subsidized by the Federal Crop Insurance Corporation, including Multi-Peril Crop Insurance. See South Carolina Code 38-1-20
- Cross examine: Questioning of a witness by the attorney for the other side.
- Customer: means an individual who pays for the right to receive the benefits of a discount medical plan. See South Carolina Code 37-17-20
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Debt bondage: means the status or condition of a debtor arising from a pledge by the debtor of his personal services or those of a person under his control as a security for debt, if the value of those services as reasonably assessed is not applied toward the liquidation of the debt or the length and nature of those services are not respectively limited and defined or if the principal amount of the debt does not reasonably reflect the value of the items or services for which the debt was incurred. See South Carolina Code 16-3-2010
- Debtor: means the person or persons for whom the credit counseling service is performed. See South Carolina Code 37-7-101
- Decedent: A deceased person.
- Declarant: means a person or group of persons acting in concert who:
(a) as part of a common promotional plan, subdivide and offer to dispose of an interest the person or group has in a unit in real property; or
(b) reserve or succeed to a special declarant right, which means a right created under the declaration or bylaws for the person or group to retain or exercise authority in addition to regular declarant rights in a unit of real property. See South Carolina Code 27-30-120
- Declaration: means the recorded instruments, however denominated, that create a homeowners association, including amendments to those instruments. See South Carolina Code 27-30-120
- deductible: means the amount specified in the evidence of coverage that the enrollee shall pay directly to the provider for covered health care services, which may be stated in either specific dollar amounts or as a percentage of the negotiated rate or lesser charge of the provider. See South Carolina Code 38-33-20
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Defense attorney: Represent defendants in criminal matters.
- Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
- Department: means the South Carolina Department of Consumer Affairs. See South Carolina Code 37-7-101
- Department: means the South Carolina Department of Consumer Affairs. See South Carolina Code 37-11-20
- Department: means the Department of Consumer Affairs. See South Carolina Code 37-16-10
- Department: means the South Carolina Department of Consumer Affairs. See South Carolina Code 37-17-20
- Dependent: A person dependent for support upon another.
- Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
- Designee or deputy director: means the person or persons appointed by the director, serving at the will and pleasure of the director as his designee, to supervise and carry out the functions and duties of the department as provided by law. See South Carolina Code 38-1-20
- Designee or Deputy Director: means the person or person appointed by director, serving at his will and pleasure as his designee, to supervise and carry out the functions and duties of the department as provided by law. See South Carolina Code 38-33-20
- Devise: To gift property by will.
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the Department of Insurance, including all of its divisions. See South Carolina Code 38-72-40
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
- director: means the Director of the South Carolina Department of Insurance or his designee. See South Carolina Code 38-21-10
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the Department of Insurance, including all of its divisions. See South Carolina Code 38-33-20
- Director or his designee: means the director or his designee of the South Carolina Department of Insurance. See South Carolina Code 38-70-10
- Disclosure statement: means a residential property condition disclosure statement written on a form as required by this article and as promulgated by regulations of the commission. See South Carolina Code 27-50-10
- Discount medical plan organization: means an entity that, in exchange for fees, dues, charges, or other consideration, provides access for customers to providers of health care services and the right to receive health care services from those providers at a discount. See South Carolina Code 37-17-20
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- DMP: means a program in which an organization agrees to engage in debt settlement or debt pooling and distribution services on behalf of a consumer with the consumer's creditors and under which the consumer gives money or control of his funds to the organization for distribution to the consumer's creditors. See South Carolina Code 37-7-101
- Docket: A log containing brief entries of court proceedings.
- Domestic insurer: means an insurer incorporated or organized under the laws of this State. See South Carolina Code 38-1-20
- Donor: The person who makes a gift.
- Dower: A widow
- Electronic contact: means any transfer of signs, signals, writings, images, sounds, data, intelligence, or information of any nature transmitted in whole or in part by any device, system, or mechanism including, but not limited to, a wire, radio, computer, electromagnetic, photoelectric, or photo-optical system. See South Carolina Code 16-3-1700
- Eligible surplus lines insurer: means a nonadmitted insurer with which a licensed broker, or a licensed producer as provided in Section 38-45-10(8)(b)(ii), may place surplus lines insurance. See South Carolina Code 38-1-20
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- Employing entity: means a person employing one or more providers and agreeing to perform or provide a duty or function of the provider pursuant to this chapter, where the provider is prevented by contract with the employing entity or the employing entity's governing documents from performing such statutory duty or function individually. See South Carolina Code 38-33-20
- Enrollee: means an individual who is enrolled in a health maintenance organization. See South Carolina Code 38-33-20
- Enterprise risk: means an activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied promptly, likely is to have a material adverse effect upon the financial condition or liquidity of the insurer or its insurance holding company system as a whole, including, but not limited to, anything that would cause the insurer's risk-based capital to fall into company action level as provided in Section 38-9-330 or would cause the insurer to be in hazardous financial condition as provided in Section 38-5-120. See South Carolina Code 38-21-10
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Entrance fee: means a payment that assures a resident a place in a facility. See South Carolina Code 37-11-20
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Equity security: when used in this chapter, means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other security which the director or his designee considers to be of similar nature and considers necessary or appropriate, by any regulation the department may prescribe in the public interest or for the protection of investors, to treat as an equity security. See South Carolina Code 38-23-20
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Established business relationship: means a relationship between the consumer and the person on whose behalf the telephone solicitation call is being made based on the consumer's:
(a) purchase from, or transaction with, the person on whose behalf the telephone solicitation is being made within the eighteen months immediately preceding the solicitation date; or
(b) inquiry or application regarding a property, good, or service offered by the person on whose behalf the telephone solicitation is being made within the three months immediately preceding the solicitation date. See South Carolina Code 37-21-20
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Evidence of coverage: means a certificate, an agreement, or a contract issued to an enrollee setting out the coverage to which he is entitled. See South Carolina Code 38-33-20
- Ex officio: Literally, by virtue of one's office.
- Executive director: means the executive director of the authority. See South Carolina Code 31-13-410
- Executor: A male person named in a will to carry out the decedent
- Exempt commercial policies: means policies for commercial insureds as may be provided for in regulation issued by the director. See South Carolina Code 38-1-20
- Exempt commercial purchaser: means any person purchasing commercial insurance that, at the time of placement, meets the following requirements:
(a) the person employs or retains a qualified risk manager to negotiate insurance coverage;
(b) the person has paid aggregate nationwide commercial property and casualty insurance premiums in excess of one hundred thousand dollars in the immediately preceding twelve months; and
(c)(i) the person meets at least one of the following criteria:
(A) the person possesses a net worth in excess of twenty million dollars, as that amount is adjusted pursuant to subsubitem (ii);
(B) the person generates annual revenues in excess of fifty million dollars, as that amount is adjusted pursuant to subsubitem (ii);
(C) the person employs more than five hundred full-time or full-time equivalent employees per individual insured or is a member of an affiliated group employing more than one thousand employees in the aggregate;
(D) the person is a not-for-profit organization or public entity generating annual budgeted expenditures of at least thirty million dollars as that amount is adjusted pursuant to subsubitem (ii); or
(E) the person is a municipality with a population in excess of fifty thousand persons. See South Carolina Code 38-45-10
- Facility: means the place in which an operator undertakes to provide continuing care to a person. See South Carolina Code 37-11-20
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Family: means a spouse, child, parent, sibling, or a person who regularly resides in the same household as the targeted person. See South Carolina Code 16-3-1700
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Federal mortgage: means a mortgage loan made by the federal government or for which there is a commitment by the federal government to make such a mortgage loan. See South Carolina Code 31-13-170
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- federally tax-qualified long term care insurance contract: means an individual or a group insurance contract that meets the requirements of Section 7702B(b) of the Internal Revenue Code of 1986, as amended, as follows:
(i) the only insurance protection provided under the contract is coverage of qualified long term care services. See South Carolina Code 38-72-40
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Felony: A crime carrying a penalty of more than a year in prison.
- Fiduciary: A trustee, executor, or administrator.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- Financial institution: means any banking corporation or trust company, building and loan association, insurance company or related corporation, partnership, foundation, federal or state agency, or other institution engaged primarily in lending or investing funds including, without limitation, the Small Business Administration, an agency of the United States Government. See South Carolina Code 33-37-10
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
- Forbearance: A means of handling a delinquent loan. A
- Forced labor: means any type of labor or services performed or provided by a person rendered through another person's coercion of the person providing the labor or services. See South Carolina Code 16-3-2010
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Foreign insurer: means an insurer incorporated or organized under the laws of the United States or of any jurisdiction within the United States other than this State. See South Carolina Code 38-1-20
- Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
- fund: means the South Carolina Housing Trust Fund. See South Carolina Code 31-13-410
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Good cause: means the violation of a specific term of the bail bond not to include the nonpayment of fees. See South Carolina Code 38-53-10
- Governing documents: means declaration, master deeds, or bylaws, or any amendments to the declaration, master deeds, or bylaws. See South Carolina Code 27-30-120
- Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
- Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
- Grantor: The person who establishes a trust and places property into it.
- Group long term care insurance: means a long term care insurance policy which is delivered or issued for delivery in this State and issued to:
(a) one or more employers or labor organizations, or to a trust or to the trustees of a fund established by one or more employers or labor organizations or a combination thereof, for employees or former employees or a combination thereof, or for members or former members or a combination thereof of the labor organizations; or
(b) any professional, trade, or occupational association for its members or former or retired members or combination thereof if such association:
(i) is composed of individuals all of whom are or were actively engaged in the same profession, trade, or occupation; and
(ii) has been maintained in good faith for purposes other than obtaining insurance; or
(c) an association or to a trust or to the trustee of a fund established, created, or maintained for the benefit of members of one or more associations. See South Carolina Code 38-72-40
- group-wide supervisor: means the regulatory official authorized to engage in conducting or coordinating group-wide supervision activities who is determined or acknowledged by the director pursuant to Section 38-21-295 to have sufficient significant contacts with the internationally active insurance group. See South Carolina Code 38-21-10
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Handling charge: means a charge, fee, or sum of money that is paid by a consumer to receive a prize, gift, or an item of value including, but not limited to, promotional fees, redemption fees, registration fees, or delivery costs. See South Carolina Code 37-15-20
- Harassment in the first degree: means a pattern of intentional, substantial, and unreasonable intrusion into the private life of a targeted person that serves no legitimate purpose and causes the person and would cause a reasonable person in his position to suffer mental or emotional distress. See South Carolina Code 16-3-1700
- Harassment in the second degree: means a pattern of intentional, substantial, and unreasonable intrusion into the private life of a targeted person that serves no legitimate purpose and causes the person and would cause a reasonable person in his position to suffer mental or emotional distress. See South Carolina Code 16-3-1700
- Health care services: means any care, service, or treatment of an illness or dysfunction of, or injury to, the human body. See South Carolina Code 37-17-20
- Health care services: means services included in furnishing an individual medical or dental care or hospitalization or incident to the furnishing of care or hospitalization, and other services to prevent, alleviate, cure, or heal human illness, injury, or physical disability. See South Carolina Code 38-33-20
- Health maintenance organization: means a person who undertakes to provide or arrange for basic health care services to enrollees for a fixed prepaid premium. See South Carolina Code 38-33-20
- Health-related services: includes a degree of personal assistance in feeding, dressing, or other essential daily living activities. See South Carolina Code 37-11-20
- Holder: means a person, wherever organized or domiciled, who is:
(a) in possession of property belonging to another;
(b) a trustee; or
(c) indebted to another on an obligation. See South Carolina Code 27-18-20
- home state: means the home state, as determined pursuant to subitem (a), of the member of the affiliated group that has the largest percentage of premium attributed to it under the insurance contract. See South Carolina Code 38-45-10
- Homeowner: means a declarant or other person who owns a unit in a homeowners association, but does not include a person having an interest in such a unit solely as security for an obligation. See South Carolina Code 27-30-120
- Housing development costs: means the sum total of all costs incurred in the development of a residential land or housing development or project which are approved by the Authority as reasonable and necessary. See South Carolina Code 31-13-170
- housing project: means any work or undertaking which is designed and financed pursuant to the provisions of this chapter for the primary purpose of providing sanitary, decent and safe dwelling accommodations for persons and families of low income and persons and families of moderate to low income in need of housing. See South Carolina Code 31-13-170
- Housing sponsor: means individuals, corporations, public housing authorities or other legal entities or any combination thereof appointed by the Authority to act and who shall have agreed either to own, construct, acquire, rehabilitate, operate, manage or maintain a housing development upon terms and conditions that insure the occupancy of such housing development by persons and families of low income and persons and families of moderate to low income upon terms compatible with the income capabilities of such persons and families. See South Carolina Code 31-13-170
- Impaired insurer: means :
(a) an insurer which becomes insolvent and is placed under a final order of liquidation, rehabilitation, or conservation by a court of competent jurisdiction, or
(b) an insurer considered by the director or his designee to be unable or potentially unable to fulfill its contractual obligations. See South Carolina Code 38-29-20
- In writing: means any written communication, including electronically transmitted data. See South Carolina Code 16-3-1510
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Independently procured insurance: means insurance procured directly by an insured from a surplus lines insurer. See South Carolina Code 38-45-10
- Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
- Individual: means a human being. See South Carolina Code 16-3-1510
- Initial offense incident report: means a uniform traffic accident report or a standardized incident report form completed at the time of the initial law enforcement response. See South Carolina Code 16-3-1510
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Insolvent insurer: means an insurer (a) licensed to transact insurance in this State either at the time the policy was issued or when the insured event occurred and (b) determined to be insolvent by a court of competent jurisdiction in the insurer's state of domicile or of this State and which the director or his designee has found fails to meet its obligation to policyholders in this State. See South Carolina Code 38-31-20
- insurance: includes annuities. See South Carolina Code 38-1-20
- Insurance agency: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity in which more than one person has a financial interest. See South Carolina Code 38-1-20
- Insurance broker: means an individual licensed by the department to represent citizens of this State in placing their insurance. See South Carolina Code 38-1-20
- Insurance broker: means a property and casualty insurance producer licensed by the director or his designee who:
(i) sells, solicits, or negotiates insurance on behalf of an insured;
(ii) takes or transmits other than for himself an application for insurance or a policy of insurance to or from an insured;
(iii) advertises or otherwise gives notice that he receives or transmits a surplus lines application or policy;
(iv) receives or delivers a policy of surplus lines insurance for an insured on behalf of a surplus lines insurer;
(v) receives, collects, or transmits a premium of surplus lines insurance; or
(vi) performs another act in the making of a surplus lines insurance contract for or with an insured. See South Carolina Code 38-45-10
- Insurance company: means an "insurer". See South Carolina Code 38-1-20
- insurance holding company system: consists of two or more affiliated persons, one or more of which is an insurer. See South Carolina Code 38-21-10
- Insurance premium service company: means a person engaged in the business of entering into insurance premium service agreements. See South Carolina Code 38-1-20
- Insurance rate: means the price of insurance for each unit of exposure. See South Carolina Code 38-1-20
- Insured: means any named insured, any additional insured, any vendor, lessor, or any other party identified as an insured under the policy. See South Carolina Code 38-31-20
- Insurer: means any domestic, foreign, or alien surety company which has qualified generally to transact surety business and specifically to transact bail bond business in this State. See South Carolina Code 38-53-10
- 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
- Insurer: means a person who has done, purports to do, is going to do, or is licensed to do an insurance business and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by the department, or similar entity, of a state. See South Carolina Code 38-26-20
- Insurer: means a domestic insurer as defined in Section 38-1-20(17). See South Carolina Code 38-44-20
- Insurer: means a corporation, a fraternal organization, a burial association, another association, a partnership, a society, an order, an individual, or an 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 38-46-20
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- Inter vivos: Transfer of property from one living person to another living person.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- International major medical insurance: means a temporary health insurance policy that covers the expenses associated with illnesses or accidents that occur while traveling or when temporarily residing outside of a person's home country. See South Carolina Code 38-1-20
- internationally active insurance group: means an insurance holding company system that includes an insurer registered pursuant to Sections 38-21-143 through 38-21-240 and meets the following criteria:
(a) premiums written in at least three countries;
(b) the percentage of gross premiums written outside the United States is at least ten percent of the insurance holding company system's total gross written premiums; and
(c) based on a three-year rolling average, the total assets of the insurance holding company system are at least fifty billion dollars or the total gross written premiums of the insurance holding company systems are at least ten billion dollars. See South Carolina Code 38-21-10
- Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
- Intestate: Dying without leaving a will.
- Involuntary servitude: means a condition of servitude induced through coercion. See South Carolina Code 16-3-2010
- item: means an item or service with monetary value. See South Carolina Code 37-15-20
- Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Junior interest holder: means any person who has a lien or interest of record prior to the recording of the notice of sale against a timeshare estate in the county in which the timeshare estate is located which is inferior to the mortgage lien or assessment lien being foreclosed under this article. See South Carolina Code 27-32-310
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Juror: A person who is on the jury.
- Last known address: means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail. See South Carolina Code 27-18-20
- Lease: means an agreement between a lessor and lessee where the lessee obtains the possession and use of a motor vehicle for the period of time, for the purposes, and for the consideration set forth in the agreement whether or not the agreement includes an option to purchase the motor vehicle. See South Carolina Code 37-13-10
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Lessee: means a person who obtains possession and use of a motor vehicle through a motor vehicle lease agreement. See South Carolina Code 37-13-10
- Lessor: means a person who in the regular course of business or as a part of regular business activity leases motor vehicles under motor vehicle lease agreements or purchases motor vehicle lease agreements or a sales finance company that purchases motor vehicle lease agreements. See South Carolina Code 37-13-10
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- License: means a document issued by the state's director or his designee authorizing a person to act as an insurance producer for the lines of authority specified in the document. See South Carolina Code 38-1-20
- Licensed producer: means an agent, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law. See South Carolina Code 38-46-20
- Licensee: means a person licensed pursuant to this chapter. See South Carolina Code 37-7-101
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lienholder: means a holder of an assessment lien or a holder of a mortgage lien, as applicable. See South Carolina Code 27-32-310
- Life insurance: means a contract of insurance upon the lives of human beings. See South Carolina Code 38-1-20
- Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, and another form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the director or his designee determines should be designated a form of limited line credit insurance. See South Carolina Code 38-1-20
- Limited line insurance: includes crop, travel surety, Federal Crop Insurance Program, and any other form of insurance that the director considers necessary in order to ensure compliance with the reciprocal provisions of this chapter. See South Carolina Code 38-1-20
- Lineal descendant: Direct descendant of the same ancestors.
- Listing agent: means a real estate licensee who represents an owner of real property in the sale, lease, or other transfer of the subject real property through the use of a written listing agreement as required by law. See South Carolina Code 27-50-10
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Living unit: means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one or more identified residents. See South Carolina Code 37-11-20
- Loan call: means the right of the corporation to call for loans by the members to the corporation as provided in Section 33-37-460 of this chapter. See South Carolina Code 33-37-10
- Loan call agreement: means the loan agreement between the corporation and its members describing the terms, conditions, and loan limits of the corporation's right to make loan calls to its members. See South Carolina Code 33-37-10
- Loan limit: means , for a member, the maximum amount subject to loan call at any one time by the corporation to the member as provided in the loan call agreement. See South Carolina Code 33-37-10
- Long term care insurance: means an insurance policy or a rider advertised, marketed, offered, or designed to provide coverage for not less than twelve consecutive months for each covered person on an expense incurred, indemnity, prepaid, or other basis, for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services, provided in a setting other than an acute care unit of a hospital. See South Carolina Code 38-72-40
- Lower income household: means a single person, family, or unrelated persons living together whose annual income adjusted for household size is more than fifty percent, but less than eighty percent, of the median income of the area of residence as determined by the United States Department of Housing and Urban Development. See South Carolina Code 31-13-410
- Marine insurance: means each insurance against loss or destruction of or damage to aircraft, vessels, or watercraft and their cargoes; insurance covering the risks or perils of navigation, transit, or transportation of all forms of property, including the liability of a carrier for hire for the loss of property of shippers delivered for transporting; marine builder's risks; bridges, tunnels, piers, wharves, docks and slips, dry docks, marine railways, and other aids to navigation and transportation, precious stones, precious metals, and jewelry, whether in the course of transportation or otherwise; coverage of personal property by all risk forms known as the "Personal Property Floater"; and coverage of mobile machinery and equipment. See South Carolina Code 38-1-20
- Marketer: means a corporation, partnership, or other business entity including, but not limited to, a health maintenance organization, an insurance company, or third party payor, who sells, markets, promotes, advertises, or distributes a discount medical plan or other purchasing mechanism or device that purports to offer discounts or access to discounts from the health care providers described in item (3) in this State on behalf of a discount medical plan organization. See South Carolina Code 37-17-20
- Member: means a financial institution authorized to do business in this State which undertakes to lend money to a corporation created pursuant to this chapter, upon its call and as provided by this chapter. See South Carolina Code 33-37-10
- Member insurer: means any person authorized to transact in this State any kind of insurance to which this chapter applies under Section 38-29-40. See South Carolina Code 38-29-20
- Member insurer: means any person who (a) writes any kind of insurance to which this chapter applies under Section 38-31-30, including the exchange of reciprocal or interinsurance contracts, and (b) is licensed to transact insurance in this State. See South Carolina Code 38-31-20
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Mobile home: as used in this article shall have the meaning assigned in Section 31-17-20. See South Carolina Code 31-17-310
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: means a mortgage or other instrument which constitutes a lien on improvements and real property or on a leasehold estate of duration satisfactory to the Authority or which can be insured to the satisfaction of the Authority. See South Carolina Code 31-13-170
- Mortgage lender: means any bank or trust company, savings bank, national banking association, savings and loan association or building and loan association, life insurance company, mortgage banker or other financial institutions authorized to transact business in the State. See South Carolina Code 31-13-170
- Mortgage lien: means a security interest in a timeshare estate created by a mortgage encumbering the timeshare estate. See South Carolina Code 27-32-310
- Mortgage loan: means an interest bearing obligation incurred for the construction, rehabilitation or financing of residential housing or for land development and secured by a mortgage, except that such definition shall not preclude a mortgage loan made for the sole purpose of refinancing an existing mortgage loan. See South Carolina Code 31-13-170
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagee: means a person holding a mortgage lien. See South Carolina Code 27-32-310
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Mortgagor: means a person granting a mortgage lien. See South Carolina Code 27-32-310
- motor vehicle physical damage appraiser: means a person, partnership, association, or corporation which practices as a business the appraising of damages to motor vehicles insured under automobile physical damage policies or on behalf of third party claimants. See South Carolina Code 38-49-10
- Municipal agent: means the Municipal Association of South Carolina or other designated agent of the municipality for the purpose set forth in this chapter. See South Carolina Code 38-45-10
- Municipality: means any incorporated municipality or other political subdivision of the State. See South Carolina Code 31-13-170
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See South Carolina Code 38-1-20
- Net annual advance premiums or deposits: as used in this chapter , means the advance premiums or deposits made by subscribers after deducting the amounts specifically provided in the subscribers' agreements for expenses. See South Carolina Code 38-17-110
- Net direct written premiums: means direct gross premiums written in this State on insurance policies to which this chapter applies, less return premiums on the policies and dividends paid or credited to policyholders on the direct business. See South Carolina Code 38-31-20
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- Nonadmitted insurer: means an insurer not licensed to do an insurance business in this State. See South Carolina Code 38-1-20
- Nonprofit organization: means a person exempt from taxation pursuant to 26 U. See South Carolina Code 37-7-101
- Notice address: means :
(a) as to an assessment lien, the address of the current obligor of a timeshare estate as reflected by the books and records of the timeshare plan. See South Carolina Code 27-32-310
- Oath: A promise to tell the truth.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligor: means either the mortgagor, the person obligated under a claim of lien, or the record owner of the timeshare estate as the context requires. See South Carolina Code 27-32-310
- Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
- Operator: means the promoter, developer, or owner of a continuing care retirement community or of an institution, building, residence, or other place, whether operated for profit or not, or a person who solicits or undertakes to provide continuing care under a continuing care facility contract. See South Carolina Code 37-11-20
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
- Oversight: Committee review of the activities of a Federal agency or program.
- Owner: means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his legal representative. See South Carolina Code 27-18-20
- Owner: means each person having a recorded present or future interest in real estate who is identified in a real estate contract subject to this article, but does not include the owner or holder of a mortgage, deed of trust, mechanic's or materialman's lien, or other lien or security interest in the real property. See South Carolina Code 27-50-10
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Pattern: means two or more acts occurring over a period of time, however short, evidencing a continuity of purpose. See South Carolina Code 16-3-1700
- Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
- Performance: means any play, motion picture, photograph, dance, or other visual representation that is exhibited before an audience. See South Carolina Code 16-3-800
- person: means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters. See South Carolina Code 38-57-20
- 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
- Person: means an individual, corporation, partnership, charitable organization, or another legal entity. See South Carolina Code 16-3-2010
- Person: means any individual, corporation, partnership, association, unincorporated organization, or other form of entity, however organized, including a nonprofit organization. See South Carolina Code 37-7-101
- Person: means an individual, a partnership, a corporation, an association, or other group however organized. See South Carolina Code 37-13-10
- Person: means an individual, corporation, trust, partnership, association, and any other legal entity. See South Carolina Code 37-15-20
- Person: means any individual, corporation, partnership, association, unincorporated organization, or other form of entity, however organized. See South Carolina Code 37-21-20
- person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity, or any combination of the foregoing acting in concert. See South Carolina Code 38-21-10
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity. See South Carolina Code 27-18-20
- Person: means an individual, corporation, partnership, association, voluntary organization, or governmental entity. See South Carolina Code 38-31-20
- Person: means a natural or an artificial person including, but not limited to, individuals, partnerships, associations, trusts, or corporations. See South Carolina Code 38-33-20
- Personal property: All property that is not real property.
- Personal relationship: means the relationship between a telephone solicitor making a telephone solicitation and a family member, friend, or acquaintance of that telephone solicitor. See South Carolina Code 37-21-20
- Persons and families of low income: means those individuals who are members of households whose gross income is less than the income of those within the definition of the class "Persons and families of moderate to low income". See South Carolina Code 31-13-170
- Persons and families of moderate to low income: means those individuals who are members of households whose gross income falls between seventy-five percent and one hundred fifty percent of the "median gross income" of all households in South Carolina as determined on the basis of the latest available statistics furnished to the Authority by the Revenue and Fiscal Affairs Office. See South Carolina Code 31-13-170
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
- Policy: means any policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this State by an insurer, fraternal benefit society, nonprofit health, hospital, or medical service corporation, prepaid health plan, health maintenance organization, or any similar organization. See South Carolina Code 38-72-40
- Policy: means a contract of insurance. See South Carolina Code 38-1-20
- 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
- Power of sale: means :
(a) an express written agreement in a mortgage identifying the mortgagor, mortgagee, and the trustee; or
(b) an express written provision in a timeshare instrument identifying the managing entity and the trustee which authorizes the trustee to sell the timeshare estate without judicial action at a foreclosure sale regularly conducted and duly held in accordance with this article. See South Carolina Code 27-32-310
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
- Premium: means payment given in consideration of a contract of insurance. See South Carolina Code 38-1-20
- Premium service agreement: means an agreement by which an insured or prospective insured promises to pay to an insurance premium service company the amount advanced or to be advanced under the agreement to an insurer or to an insurance producer or insurance broker in payment of premiums on an insurance contract together with a service charge as authorized by Chapter 39 of this title. See South Carolina Code 38-1-20
- Premium tax: means , with respect to surplus lines or independently procured insurance coverage, any tax, fee, assessment, or other charge imposed by a governmental entity directly or indirectly based on any payment made as consideration for an insurance contract, including premium deposits, assessments, registration fees, and any other compensation given in consideration for a contract of insurance. See South Carolina Code 38-45-10
- Premiums: means direct gross insurance premiums and annuity considerations collected or written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on the direct business. See South Carolina Code 38-29-20
- Prepaid legal company: means a person or entity offering prepaid legal services to the general public or a segment of the general public. See South Carolina Code 37-16-10
- Prepaid legal services: means legal services or reimbursement for legal services provided by an individual licensed or admitted to practice law in the jurisdiction in which the services are to be rendered, and which are provided in return for a predetermined, specified, periodic fee. See South Carolina Code 37-16-10
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- Principal: means a defendant or witness obligated to appear in court as required upon penalty of forfeiting bail under a bail bond. See South Carolina Code 38-53-10
- Private review agent: means a person performing utilization reviews who is either under contract with or acting on behalf of, but not employed by:
(a) a South Carolina business entity;
(b) the State of South Carolina; or
(c) a hospital. See South Carolina Code 38-70-10
- Prize promotion: means :
(a) a sweepstakes or other game of chance; or
(b) an oral or written representation that a person has won, has been selected to receive, or may be eligible to receive a prize or purported prize. See South Carolina Code 37-21-20
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Probate: Proving a will
- Probation: means allowing a licensed person the director has found to have violated South Carolina, any United States territory, or another state's laws to continue selling, soliciting, or negotiating insurance on behalf of an insurer. See South Carolina Code 38-1-20
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- producer: means a person who represents an insurance company and is required to be licensed pursuant to Section 38-43-10. See South Carolina Code 38-1-20
- Professional bondsman: means any person who is approved and licensed under the provisions of this chapter and who pledges cash or approved securities with the clerk of court as security for bail bonds written in connection with a judicial proceeding and receives or is promised money or other things of value for the pledge. See South Carolina Code 38-53-10
- Professional bondsman: means as defined in Section 38-53-10. See South Carolina Code 38-1-20
- Promote: means to procure, manufacture, issue, sell, give, provide, lend, mail, deliver, transfer, transmit, publish, distribute, circulate, disseminate, present, exhibit, or advertise or to offer or agree to do any of the above. See South Carolina Code 16-3-800
- Property insurance: means each insurance against direct or indirect loss of or damage to a property resulting from fire, smoke, weather disturbances, climatic conditions, earthquake, volcanic eruption, rising waters, insects, blight, animals, war damage, riot, civil commotion, destruction by order of civil authority to prevent spread of conflagration or for other reason, water damage, vandalism, glass breakage, explosion of a water system, collision, theft of automobiles, and personal effects in them (but no other forms of theft insurance), loss of or damage to domestic or wild animals, and any other perils to property which in the discretion of the director or his designee form proper subjects of property insurance, if not specified in items (1), (7), (11), (35), (40), (54), or (59) of this section. See South Carolina Code 38-1-20
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Prosecuting agency: means the solicitor, Attorney General, special prosecutor, or any person or entity charged with the prosecution of a criminal case in general sessions or family court. See South Carolina Code 16-3-1510
- Provider: means a physician, dentist, hospital, or other person properly licensed, where required, to furnish health care services. See South Carolina Code 38-33-20
- Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
- Public adjusting: means investigating, appraising or evaluating, and reporting to an insured in relation to a first party claim arising under insurance contracts, that insure the real or personal property, or both, of the insured. See South Carolina Code 38-48-10
- Public defender: Represent defendants who can't afford an attorney in criminal matters.
- Public insurance adjuster: means any individual who, for salary, fee, commission, or other compensation, engages in public adjusting and who is licensed under Section 38-48-20. See South Carolina Code 38-48-10
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Purchaser: means each person or entity named as a purchaser, buyer, or tenant in a real estate contract subject to this article. See South Carolina Code 27-50-10
- Qualified risk manager: means , with respect to a policyholder of commercial insurance, a person who meets all of the following requirements:
(a) the person is an employee of, or third-party consultant retained by, the commercial policyholder;
(b) the person provides skilled services in loss prevention, loss reduction, or risk and insurance coverage analysis, and purchase of insurance; and
(c)(i)(A) the person has a bachelor's degree or higher from an accredited college or university in risk management, business administration, finance, economics, or any other field determined by the director or other state regulatory official or entity to demonstrate minimum competence in risk management; and
(B) has three years of experience in risk financing, claims administration, loss prevention, risk and insurance analysis, or purchasing commercial lines of insurance; or
(aa) has a designation as a Chartered Property and Casualty Underwriter (CPCU) issued by the American Institute for CPCU/Insurance Institute of America;
(bb) has a designation as an Associate in Risk Management (ARM) issued by the American Institute for CPCU/Insurance Institute of America;
(cc) has a designation as Certified Risk Manager (CRM) issued by the National Alliance for Insurance Education & Research;
(dd) has a designation as a RIMS Fellow (RF) issued by the Global Risk Management Institute; or
(ee) any other designation, certification, or license determined by the director or other state insurance regulatory official or entity to demonstrate minimum competency in risk management;
(ii)(A) has at least seven years of experience in risk financing, claims administration, loss prevention, risk and insurance coverage analysis, or purchasing commercial lines of insurance; and
(B) has any one of the designations specified in subitems (c)(i)(B)(aa) through (c)(i)(B)(ee);
(iii) has at least ten years of experience in risk financing, claims administration, loss prevention, risk and insurance coverage analysis, or purchasing commercial lines of insurance; or
(iv) has a graduate degree from an accredited college or university in risk management, business administration, finance, economics, or any other field determined by the director or other state regulatory official or entity to demonstrate minimum competence in risk management. See South Carolina Code 38-45-10
- Quorum: The number of legislators that must be present to do business.
- Real estate contract: means a contract for the transfer of ownership of real property. See South Carolina Code 27-50-10
- Real estate licensee: means an individual licensed under Title 40, Chapter 57. See South Carolina Code 27-50-10
- Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means all lands within the State, including improvements and fixtures thereon, and property of any nature appurtenant thereto or used in connection therewith and every estate, interest and right, legal or equitable, thereon, including leasehold estates. See South Carolina Code 31-13-170
- Real property: means the lot or parcel and the dwelling unit described in a real estate contract subject to this article. See South Carolina Code 27-50-10
- Recess: A temporary interruption of the legislative business.
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager defined in this section. See South Carolina Code 38-46-20
- Reinsurance intermediary-broker: means a person, other than an officer or employee of the ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer. See South Carolina Code 38-46-20
- Reinsurance intermediary-manager: means a person who has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a reinsurance intermediary-manager or other similar term. See South Carolina Code 38-46-20
- Reinsurer: means a person, a firm, an association, or a corporation licensed in this State pursuant to the applicable provisions of the insurance law as an insurer with the authority to assume reinsurance. See South Carolina Code 38-46-20
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Remand: When an appellate court sends a case back to a lower court for further proceedings.
- Rental management company: means a licensed property manager-in-charge or broker-in-charge and their associates and employees who manage vacation rentals. See South Carolina Code 27-50-230
- Representative: means an individual who is designated by a discount medical plan organization, as defined in this section, and acts or aids on behalf of the discount medical plan organization in the solicitation, negotiation, or renewal of a discount medical plan with respect to South Carolina citizens. See South Carolina Code 37-17-20
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
- Resident: means a purchaser of, a nominee of, or a subscriber to a continuing care contract. See South Carolina Code 37-11-20
- Residential housing: means a specific work or improvement within the State which provides dwelling accommodations for persons and families of low income and persons and families of moderate to low income and such other recreational, community, educational and commercial facilities as may be incidental or appurtenant thereto as shall be approved by the Authority as necessary or desirable for the particular undertaking. See South Carolina Code 31-13-170
- Residential property: means an apartment, condominium, single family home, townhouse, cottage, or other property devoted to residential use or occupancy by one or more persons for a definite or indefinite period. See South Carolina Code 27-50-230
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
- Runner: means a person employed by a bail bondsman for the purpose of assisting the bail bondsman in presenting the defendant in court when required, assisting in the apprehension and surrender of the defendant to the court, keeping the defendant under necessary surveillance, and executing bonds on behalf of the licensed bondsman when the power of attorney has been recorded. See South Carolina Code 38-53-10
- Runner: means as defined in Section 38-53-10. See South Carolina Code 38-1-20
- Secured party: means a lender, a seller, or other person in whose favor there is a security interest including a person to whom accounts or retail installment sales contracts have been sold. See South Carolina Code 37-13-10
- Security interest: means an interest in personal property that secures performance of an obligation. See South Carolina Code 37-13-10
- Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See South Carolina Code 38-1-20
- Selling agent: means a real estate licensee who represents a purchaser of real property through the use of a written agency agreement as required by law, a real estate licensee who is a subagent as defined by law who represents the owner, or a dual agent as defined by law who represents both the purchaser and owner. See South Carolina Code 27-50-10
- Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
- Service of process: The service of writs or summonses to the appropriate party.
- Services: means an act committed at the behest of, under the supervision of, or for the benefit of another person. See South Carolina Code 16-3-2010
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Sex trafficking: means the recruitment, harboring, transportation, provision, or obtaining of a person for one of the following when it is induced by force, fraud, or coercion or the person performing the act is under the age of eighteen years and anything of value is given, promised to, or received, directly or indirectly, by any person:
(a) criminal sexual conduct pursuant to Section 16-3-651;
(b) criminal sexual conduct in the first degree pursuant to Section 16-3-652;
(c) criminal sexual conduct in the second degree pursuant to Section 16-3-653;
(d) criminal sexual conduct in the third degree pursuant to Section 16-3-654;
(e) criminal sexual conduct with a minor pursuant to Section 16-3-655;
(f) engaging a child for sexual performance pursuant to Section 16-3-810;
(g) producing, directing, or promoting sexual performance by a child pursuant to Section 16-3-820;
(h) sexual battery pursuant to Section 16-3-651;
(i) sexual conduct pursuant to Section 16-3-800; or
(j) sexual performance pursuant to Section 16-3-800. See South Carolina Code 16-3-2010
- Sexual conduct: means actual or simulated sexual intercourse, deviate sexual intercourse, sexual bestiality, masturbation, sado-masochistic abuse, or lewd exhibition of the genitals. See South Carolina Code 16-3-800
- Sexual performance: means any performance or part thereof that includes sexual conduct by a child younger than eighteen years of age. See South Carolina Code 16-3-800
- Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See South Carolina Code 38-1-20
- Special appointment: means an individual designated by an insurer to supervise and assist other producers in the proper discharge of their duties under an insurer's policy contract. See South Carolina Code 38-1-20
- specifications: means any technical or purchase description or other description of the physical or functional characteristics, or of the nature of a supply, service, or construction item. See South Carolina Code 11-35-2610
- Stalking: means a pattern of words, whether verbal, written, or electronic, or a pattern of conduct that serves no legitimate purpose and is intended to cause and does cause a targeted person and would cause a reasonable person in the targeted person's position to fear:
(1) death of the person or a member of his family;
(2) assault upon the person or a member of his family;
(3) bodily injury to the person or a member of his family;
(4) criminal sexual contact on the person or a member of his family;
(5) kidnapping of the person or a member of his family; or
(6) damage to the property of the person or a member of his family. See South Carolina Code 16-3-1700
- State: means the State of South Carolina. See South Carolina Code 31-13-170
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See South Carolina Code 27-18-20
- State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa. See South Carolina Code 38-45-10
- State Fiscal Accountability Authority: means the State Fiscal Accountability Authority. See South Carolina Code 31-13-170
- Statute: A law passed by a legislature.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- Sublease: means an agreement whether written or oral to transfer:
(a) to a third party possession of a motor vehicle which is and, while in that third party's possession, remains the subject of a security interest which secures performance of a retail installment contract or consumer loan;
(b) or assign to a third party any of the buyer's rights, interests, or obligations under the retail installment contract or consumer loan;
(c) to a third party possession of a motor vehicle which is and, while in the third party's possession, remains the subject of a motor vehicle lease agreement; or
(d) or assign to a third party any of the lessee's or buyer's rights, interests, or obligations under the motor vehicle lease agreement. See South Carolina Code 37-13-10
- Sublease arranger: means a person who engages in the business of inducing by any means buyers and lessees to enter into subleases as sublessors and inducing third parties to enter into subleases or sublessees, however these contracts are called. See South Carolina Code 37-13-10
- Subpoena: A command to a witness to appear and give testimony.
- Subpoena duces tecum: A command to a witness to produce documents.
- Summary court: means magistrate or municipal court. See South Carolina Code 16-3-1510
- Summons: Another word for subpoena used by the criminal justice system.
- supervisory college: is a meeting or joint meeting of insurance regulators or supervisors with company officials where the topic of discussion is regulatory oversight of one specific insurance group that is writing significant amounts of insurance in other jurisdictions. See South Carolina Code 38-21-10
- Surety: means one who, with the defendant, is liable for the amount of the bail bond upon forfeiture of bail. See South Carolina Code 38-53-10
- Surety: includes insurance or a bond that covers obligations to pay the debts, or answer for the default, of another, including faithlessness in a position of public or private trust. See South Carolina Code 38-1-20
- Surety bondsman: means any person who is approved by and licensed by the director or his designee as an insurance agent, appointed by an insurer by power of attorney to execute or countersign bail bonds for the insurer in connection with judicial proceedings, and receives or is promised money or other things of value for the execution or countersignature. See South Carolina Code 38-53-10
- Surety bondsman: means as defined in Section 38-53-10. See South Carolina Code 38-1-20
- Surplus lines insurance: means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker, or a licensed broker as provided in Section 38-45-10(8)(b)(ii), with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. See South Carolina Code 38-1-20
- Surplus lines insurance: means any property and casualty insurance permitted to be placed directly or through a surplus lines broker, or an insurance producer as provided in subitem (b)(ii), with a surplus lines insurer eligible to accept the insurance as defined in Section 38-1-20(56). See South Carolina Code 38-45-10
- Surplus lines insurer: means an insurer not licensed to engage in the business of insurance in this State, but does not include a risk retention group, as that term is defined in Section 2(a)(4) of the Liability Risk Retention Act of 1986 (15 U. See South Carolina Code 38-45-10
- Telephone solicitation: means the initiation of a telephone call, or a text or media message sent, to a natural person's residence in the State, or to a wireless telephone with a South Carolina area code, for the purpose of offering or advertising a property, good, or service for sale, lease, license, or investment, including offering or advertising an extension of credit, prize promotion, or for the purposes of obtaining information that will or may be used for the direct solicitation thereof. See South Carolina Code 37-21-20
- Telephone solicitor: means a person who makes, or causes another person to make, a telephone solicitation. See South Carolina Code 37-21-20
- Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
- Terminate: means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance. See South Carolina Code 38-1-20
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Text Message: means a communication consisting of text, images, sounds, or other information that is transmitted to or from a device that is identified as the receiving or transmitting device by means of a ten-digit telephone number or N11 service code;
(a) includes a short message service (commonly referred to as "SMS") message and a multimedia message service (commonly referred to as "MMS") message; and
(b) does not include:
(i) a real-time, two-way voice or video communication; or
(ii) a message sent over an IP-enabled messaging service to another user of the same messaging service, except a message described in subitem (a). See South Carolina Code 37-21-20
- Third party: means a person other than the buyer or the lessee of the vehicle. See South Carolina Code 37-13-10
- Timeshare instrument: means the document or documents which provide the legal framework for the establishment of the method of interval ownership of the timeshare estate and is or are recorded at the office of Register of Deeds in the county in which the timeshare estate is located. See South Carolina Code 27-32-310
- Title insurance: means insurance of the owners of real property and other persons lawfully interested in the title insurance against loss by reason of defective titles and undisclosed liens and encumbrances affecting the property. See South Carolina Code 38-1-20
- To be in violation: means that the reinsurance intermediary, insurer, or reinsurer for whom the reinsurance intermediary was acting failed to comply substantially with this chapter. See South Carolina Code 38-46-20
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
- Transfer: means to transfer possession of a motor vehicle by sale, loan assumption, lease, sublease, or lease assignment. See South Carolina Code 37-13-10
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- Trial jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trust institution: means a state or national bank, state or federal savings and loan association, or trust company authorized to act in a fiduciary capacity in this State. See South Carolina Code 37-11-20
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means any person entitled to exercise a power of sale. See South Carolina Code 27-32-310
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
- Uniform agency application: means the current version of the National Association of Insurance Commissioners Uniform Business Entity Application for resident and nonresident business entities. See South Carolina Code 38-1-20
- Uniform application: means the current version of the National Association of Insurance Commissioners Uniform Application for resident and nonresident producer licensing. See South Carolina Code 38-1-20
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- Unit: means an apartment in a horizontal property regime, or a lot in a subdivision. See South Carolina Code 27-30-120
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
- Utilization review: means a system for reviewing the necessary, appropriate, and efficient allocation of health care resources and services given or proposed to be given to a patient or group of patients. See South Carolina Code 38-70-10
- Utilization review program: means an overview of the activities performed by the private review agent. See South Carolina Code 38-70-10
- Vacation rental: means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act. See South Carolina Code 27-50-230
- Vacation rental agreement: means a written agreement between an owner or the owner's rental management company and a tenant, in which the tenant rents residential property belonging to the owner for a vacation rental. See South Carolina Code 27-50-230
- Vacation rental management agreement: means a written agreement between an owner and the owner's rental management company, in which the rental management company manages residential property belonging to the owner for a vacation rental. See South Carolina Code 27-50-230
- Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
- Venue: The geographical location in which a case is tried.
- Verdict: The decision of a petit jury or a judge.
- Very low income household: means a household that has an annual income adjusted for household size of less than fifty percent of the median income of the area of residence as determined by the United States Department of Housing and Urban Development. See South Carolina Code 31-13-410
- Victim: means any individual who suffers direct or threatened physical, psychological, or financial harm as the result of the commission or attempted commission of a criminal offense, as defined in this section. See South Carolina Code 16-3-1510
- Victim: means a person who suffers direct or threatened physical, emotional, or financial harm as the result of an act by someone else, which is a crime. See South Carolina Code 16-3-1610
- victim: means a person who has been subjected to the crime of trafficking in persons. See South Carolina Code 16-3-2010
- Victim advocate: work with prosecutors and assist the victims of a crime.
- Victim Impact Statement: A written or spoken statement by the victim or his or her representative about the physical, emotional, and financial impact of a crime on the victim. The statement is given to the court before sentencing.
- voting security: includes any security convertible into or evidencing a right to acquire a voting security. See South Carolina Code 38-21-10
- Witness: means a person who has been or is expected to be summoned to testify for either the prosecution or the defense or who by reason of having relevant information is subject to be called or likely to be called as a witness for the prosecution or defense for criminal offenses defined in this section, whether or not any action or proceeding has been commenced. See South Carolina Code 16-3-1510
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.