Terms Used In South Carolina Code > Title 33 > Chapter 42 > Article 8 - Dissolution

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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 limited partnership: means the certificate referred to in § 33-42-210, any certificate of limited partnership filed with the office of the Secretary of State in connection with the formation of a limited partnership under any applicable statute of this State prior to the effective date of this chapter, and any such certificate as amended, or restated. See South Carolina Code 33-42-20
• Contract: A legal written agreement that becomes binding when signed.
• 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 of Insurance, including all of its divisions. See South Carolina Code 38-72-40
• Event of withdrawal of a general partner: means an event that causes a person to cease to be a general partner as provided in § 33-42-620. See South Carolina Code 33-42-20
• General partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See South Carolina Code 33-42-20
• 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
• insurance: includes annuities. 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
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• 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
• Partner: means a limited or general partner. See South Carolina Code 33-42-20
• 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.
• Partnership agreement: means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See South Carolina Code 33-42-20
• 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
• 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
• 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
• 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
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.