§ 38-19-610 Borrowed surplus
§ 38-19-620 Loans may not be part of legal liabilities but must be reflected in financial statements
§ 38-19-630 Repayment of loans
§ 38-19-640 Repayment of more than one loan or by multiple agreement
§ 38-19-650 Director’s approval required for repayment
§ 38-19-660 Rights of holders of loan upon dissolution

Terms Used In South Carolina Code > Title 38 > Chapter 19 > Article 7 - Borrowing

  • 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.
  • Approved massage therapy education program: means a supervised educational program in a school approved by the Commission on Higher Education. See South Carolina Code 40-30-30
  • Approved massage therapy school: means a facility that offers an educational program that meets minimum requirements for training and curriculum as determined by the board pursuant to this chapter and related regulations. See South Carolina Code 40-30-30
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the South Carolina Massage Therapy Board under the administration of the department. See South Carolina Code 40-30-30
  • Client: means a person who receives massage therapy from a licensed massage therapist in exchange for compensation. See South Carolina Code 40-30-30
  • Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
  • Currently enrolled student: means a student who is enrolled and actively participating in an approved massage therapy school or an approved massage therapy education program. See South Carolina Code 40-30-30
  • Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-30-30
  • 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 Department of Labor, Licensing and Regulation. See South Carolina Code 40-30-30
  • Entity: means a sole proprietorship, partnership, limited liability partnership, limited liability company, or other business entity or association as approved by the board. See South Carolina Code 40-30-30
  • Hydrotherapy: means the use of water, vapor, or ice for treatment of superficial tissues. See South Carolina Code 40-30-30
  • 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
  • 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.
  • Licensed massage therapy supervisor: means a licensed massage therapist who has been in good standing for at least two years and who supervises a currently enrolled student. See South Carolina Code 40-30-30
  • Licensure: means the procedure by which an individual applies to the department and is granted approval to practice massage therapy, or the procedure by which an establishment applies to the department and is granted approval to operate as a massage therapy establishment or a sole practitioner establishment. See South Carolina Code 40-30-30
  • Massage therapist: means an individual licensed as required by this chapter, who administers massage therapy for compensation. See South Carolina Code 40-30-30
  • Massage therapy: means the application of a system of structured touch to the soft tissues of the human body with the hand, foot, knee, arm, or elbow, whether or not the structured touch is aided by hydrotherapy, thermal therapy, a massage therapy device, or application to the human body of an herbal preparation. See South Carolina Code 40-30-30
  • Massage therapy establishment: means an entity with a physical site or premise, licensed as required by this chapter, in which licensed massage therapists are employees or contractors practicing massage therapy on clients. See South Carolina Code 40-30-30
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • 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.
  • Sole practitioner establishment: means a licensed massage therapist who is licensed pursuant to this chapter, who is not an employee or contractor of the sole practitioner establishment, and who provides massage therapy to clients at a specific location including, but not limited to, a rental space, home office space, or outcall or onsite space. See South Carolina Code 40-30-30
  • Thermal therapy: means the use of ice or a heat lamp or moist heat on superficial tissues. See South Carolina Code 40-30-30