§ 33-15-200 Withdrawal of foreign corporation

Terms Used In South Carolina Code > Title 33 > Chapter 15 > Article 2 - Withdrawal

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the 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.
  • Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
  • 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
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • insurance: includes annuities. 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
  • 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
  • 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
  • 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
  • Premium: means payment given in consideration of a contract of insurance. See South Carolina Code 38-1-20
  • producer: means a person who represents an insurance company and is required to be licensed pursuant to § 38-43-10. See South Carolina Code 38-1-20
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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
  • Summons: Another word for subpoena used by the criminal justice system.
  • 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