Terms Used In South Carolina Code > Title 33 > Chapter 44 > Article 9 - Conversions and Mergers

• 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.
• 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.
• 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.
• Association: means a joint underwriting association established pursuant to this subdivision. See South Carolina Code 38-89-10
• 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}
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• coverage: means as defined in Sections 38-71-670(6) and 38-71-840(14). See South Carolina Code 38-93-10
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
• Dependent: A person dependent for support upon another.
• 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
• 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}
• Family member: means , with respect to an individual:
  
  (a) a dependent of the individual; and
  
  (b) any other individual who is a first-degree, second-degree, third-degree, or fourth-degree relative of the individual or his dependent. See South Carolina Code 38-93-10
• Genetic information: means , with respect to an individual, the:
  
  (i) individual's genetic tests;
  
  (ii) genetic tests of the individual's family members; and
  
  (iii) manifestation of a disease or disorder in family members of the individual. See South Carolina Code 38-93-10
• Genetic services: means :
  
  (a) a genetic test;
  
  (b) genetic counseling, including obtaining, interpreting, or assessing genetic information; or
  
  (c) genetic education. See South Carolina Code 38-93-10
• Genetic test: means an analysis of human DNA, RNA, chromosomes, proteins, or metabolites that detects genotypes, mutations or chromosomal changes. See South Carolina Code 38-93-10
• Grantor: The person who establishes a trust and places property into it.
• Individual: means an insured, individual enrollee, covered dependent, participant, covered person, beneficiary, eligible employee, dependent of an eligible employee, or applicant for coverage. See South Carolina Code 38-93-10
• insurance: includes annuities. 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
• issuer: means an entity that provides health insurance coverage in this State as defined in Sections 38-71-670(7) and 38-71-840(16). See South Carolina Code 38-93-10
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Net direct premiums: means gross direct premiums written on bodily injury liability insurance, other than automobile liability insurance, homeowners liability insurance, and farmowners liability insurance, including the liability component of multiple peril package policies, as computed by the director or his designee less return premiums or the unused or unabsorbed portions of premium deposits. See South Carolina Code 38-89-10
• 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.
• 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.
• 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
• Policy: means a contract of insurance. 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
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Secretary: means the Secretary of the United States Department of Health and Human Services. See South Carolina Code 38-93-10
• Service of process: The service of writs or summonses to the appropriate party.
• Statute: A law passed by a legislature.
• 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
• Underwriting purposes: means :
  
  (a) rules for, or determination of, eligibility including enrollment and continued eligibility for benefits under the policy or coverage;
  
  (b) the computation of premium or contribution amounts under the policy or coverage;
  
  (c) the application of any preexisting condition exclusion under the policy or coverage; and
  
  (d) other activities related to the creation, renewal, or replacement of a policy or contract of health insurance coverage. See South Carolina Code 38-93-10