reglab/housing_qa huggingface dataset:
SC Code § 38-26-20 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-20. Definitions.

 As used in this chapter:  (1) "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. For purposes of this chapter, other persons included under Section 38-27-40 are considered insurers.  (2) "Exceed its powers" means the following conditions:  (a) The insurer has refused to permit examination of its books, papers, accounts, records, or affairs by the director or his deputies, designees, employees, or commissioned examiners.  (b) A domestic insurer unlawfully has removed from this State books, papers, accounts, or records necessary for an examination of the insurer.  (c) The insurer has failed to comply promptly with the applicable financial reporting statutes or regulations and related departmental requests.  (d) The insurer has neglected or refused to observe an order of the director or his designee to make good, within the time prescribed by law, prohibited deficiency in its capital, capital stock, or surplus.  (e) The insurer is continuing to transact insurance or write business after its license has been revoked or suspended by the director or his designee.  (f) The insurer, by contract or otherwise, unlawfully, in violation of an order of the director or his designee, or without first having obtained written approval of the director or his designee if approval is required by law has:  (i) totally reinsured its entire outstanding business; or  (ii) merged or consolidated substantially its entire property or business with another insurer.  (g) The insurer engaged in a transaction in which it is not authorized to engage under the laws of this State.  (h) The insurer refused to comply with a lawful order of the director or his designee.  (3) "Consent" means agreement to administrative supervision by the insurer.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-30 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-30. Insurers to which chapter applies.

 The provisions of this chapter apply to:  (1) domestic insurers;  (2) an insurer doing business in this State whose state of domicile has asked the director or his designee to apply the provisions of this chapter as regards the insurer.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-40 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-40. Conditions warranting supervision; notification.

 (A) An insurer may be subject to administrative supervision by the department if upon examination or at another time it appears in the discretion of the director or his designee that one or more of the following circumstances exist:  (1) The insurer's condition renders the continuance of its business hazardous to the public or to its insureds.  (2) The insurer has exceeded its powers granted under its certificate of authority and applicable law.  (3) The insurer has failed to comply with a provision of the insurance laws of this State.  (4) The business of the insurer is being conducted fraudulently.  (5) The insurer gives its consent.  (B) If the director or his designee determines that one or more of the conditions set forth in subsection (A) exist, he shall:  (1) notify the insurer of his determination;  (2) furnish to the insurer a written list of the requirements to abate this determination;  (3) notify the insurer that it is under the supervision of the department and that the director or his designee is applying the provisions of the chapter. Action by the director or his designee is subject to review pursuant to related regulations and the Administrative Procedures Act.  (C) If placed under administrative supervision, the insurer has sixty days or another period of time designated by the director or his designee to comply with the requirements of the department subject to the provisions of this chapter.  (D) If it is determined after notice and hearing that the conditions giving rise to the supervision still exist at the end of the supervision period, the director or his designee may extend the period or may initiate proceedings under Chapter 27 of this title.  (E) If it is determined that none of the conditions giving rise to the supervision exist, the director or his designee shall release the insurer from supervision.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-50 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-50. Proceedings, hearings, notices, correspondence, reports and records.

 (A) Proceedings, hearings, notices, correspondence, reports, records, and other information in the possession of the director, his designee, or the Department of Insurance relating to the supervision of an insurer are confidential except as provided by this section.  (B) Department personnel have access to the proceedings, hearings, notices, correspondence, reports, records, and other information permitted by the director or his designee.  (C) The director or his designee may open the proceedings or hearings or disclose notices, correspondence, reports, records, or other information to a department, agency, or instrumentality of this or another state or of the United States if the director or his designee determines that the disclosure is necessary or proper for the enforcement of the laws of this or another state or the United States.  (D) The director or his designee may open the proceedings or hearings or make public notices, correspondence, reports, records, or other information if the director or his designee determines that it is in the best interest of the public or in the best interest of the insurer, its insureds, its creditors, or the general public.  (E) This section does not apply to hearings, notices, correspondence, reports, records, or other information obtained after the appointment of a receiver for the insurer by a court of competent jurisdiction.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-60 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-60. Supervision by director or designee; acts prohibited or regulated as to supervised insurer

 During the period of supervision, the director or his designated appointee shall serve as the administrative supervisor. The director or his designee may provide, after notice to the insurer, that the insurer may not do any of the following things during supervision without the prior approval of the director or his appointed supervisor:  (1) dispose of, convey, or encumber its assets or its business in force;  (2) withdraw its bank accounts;  (3) lend its funds;  (4) invest its funds;  (5) transfer its property;  (6) incur debt, obligation, or liability;  (7) merge or consolidate with another company;  (8) approve new premiums or renew policies;  (9) enter into a new reinsurance contract or treaty;  (10) terminate, surrender, forfeit, convert, or lapse an insurance policy, a certificate, or a contract, except for nonpayment of premiums due;  (11) release, pay, or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on an insurance policy, certificate, or contract;  (12) make a material change in management;  (13) increase salaries and benefits of officers or directors or the preferential payment of bonuses, dividends, or other preferential payments.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-70. Contest of supervisor's action; right of review.

 During supervision the insurer may contest an action taken or proposed to be taken by the supervisor specifying the manner in which the action being complained of would not result in improving the condition of the insurer. Denial of the insurer's request upon reconsideration entitles the insurer to review under related regulation and the Administrative Procedures Act.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-80. Other proceedings not precluded.

 Nothing in this chapter precludes the director or his designee from initiating judicial proceedings to place an insurer in conservation, rehabilitation, or liquidation or other delinquency proceedings, however designated under the laws of this State, regardless of whether the director or his designee previously has initiated administrative supervision proceedings under this chapter against the insurer.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-90 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-90. Meeting of director with supervisor.

 The director or his designee may meet with a supervisor appointed under this chapter and with his attorney or other representative without the presence of another person at the time of or during a proceeding held under authority of this chapter to carry out the duties of the director or his designee or for the supervisor to carry out his duties under this chapter.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-100 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-100. No liability of Department or director.

 There is no liability on the part of, and no cause of action may arise against, the director, his designee, or the Department of Insurance or its employees or agents for action taken by them in the performance of their powers and duties under this chapter.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-26-110 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 26 - Administrative Supervision Of Insurers Act|Section 38-26-110. Power to promulgate regulations.

 The department may promulgate regulations necessary for the implementation of this chapter.  HISTORY: 1991 Act No. 13, Section 3; 1993 Act No. 181, Section 608.
SC Code § 38-27-10 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-10. Short title.

 This chapter may be cited as the "Insurers Rehabilitation and Liquidation Act".  HISTORY: Former 1976 Code Section 38-27-10 [1962 Code Section 37-1302; 1967 (55) 273] recodified as Section 38-1-20 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1810 [En, 1982 Act No. 384, Section 1] recodified as Section 38-27-10 by 1987 Act No. 155, Section 1; 1991 Act No. 13, Section 16; 1993 Act No. 181, Section 609.
SC Code § 38-27-20 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-20. Construction.

 This chapter does not limit the powers granted the director or his designee by other provisions of law and must be liberally construed to effect the purpose stated in Section 38-27-30.  HISTORY: Former 1976 Code Section 38-27-20 derived from [1962 Code Section 37-1301; 1967 (55) 273] recodified as Section 38-39-10 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1810 [En, 1982 Act No. 384, Section 1] recodified as Section 38-27-20 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609.
SC Code § 38-27-30 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-30. Purpose.

 The purpose of this chapter is the protection of the interests of insureds, claimants, creditors, and the public generally, with minimum interference with the normal prerogatives of the owners and managers of insurers, through:  (1) Early detection of any potentially dangerous condition in an insurer and prompt application of appropriate corrective measures.  (2) Improved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry.  (3) Enhanced efficiency and economy of liquidation, through clarification of the law, to minimize legal uncertainty and litigation.  (4) Equitable apportionment of any unavoidable loss.  (5) Lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process and by extending the scope of personal jurisdiction over debtors of the insurer outside this State.  (6) Regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business.  HISTORY: Former 1976 Code Section 38-27-30 [1962 Code Section 37-1303; 1967 (55) 273; 1971 (57) 709; 1985 Act No. 4, Section 1] recodified as Section 38-39-20 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1810 [1982 Act No. 384, Section 1] recodified as Section 38-27-30 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609.
SC Code § 38-27-40 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-40. Persons covered.

 The proceedings authorized by this chapter may be applied to:  (1) insurers who are doing, or have done, an insurance business in this State and against whom claims arising from that business may exist now or in the future;  (2) insurers who purport to do an insurance business in this State;  (3) insurers who have insureds resident in this State;  (4) other persons organized or in the process of organizing with the intent to do an insurance business in this State;  (5) nonprofit service plans, fraternal benefit societies, and beneficial societies; however, this chapter does not apply to associations as defined in Section 38-38-730(A)(8);  (6) title insurance companies;  (7) surety companies subject to Chapter 15, Title 38;  (8) multiple employer self-insured health plans defined in Chapter 41 of Title 38;  (9) prepaid health care delivery plans.  HISTORY: Former 1976 Code Section 38-27-40 [1962 Code Section 37-1304; 1967 (55) 273; 1971 (57) 709; 1985 Act No. 4, Section 2] recodified as Section 38-39-30 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1820; 1982 Act No. 384, Section 2] recodified as Section 38-27-40 by 1987 Act No. 155, Section 1; 1991 Act No. 13, Section 17; 1993 Act No. 181, Section 609; 2008 Act No. 193, Section 1, eff April 2, 2008.
SC Code § 38-27-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-70. Injunctions and orders.

 (A)(1) A receiver appointed in a proceeding under this chapter may at any time apply for, and a court of general jurisdiction may grant, restraining orders, preliminary and permanent injunctions, and other orders considered necessary and proper to prevent:  (a) the transaction of further business;  (b) the transfer of property;  (c) interference with the receiver or with a proceeding under this chapter;  (d) waste of the insurer's assets;  (e) dissipation and transfer of bank accounts;  (f) the institution or further prosecution of any actions or proceedings;  (g) the obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer, its assets, or its policyholders;  (h) the levying of execution against the insurer, its assets, or its policyholders;  (i) the making of any sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer;  (j) the withholding from the receiver of books, accounts, documents, or other records relating to the business of the insurer; or  (k) any other threatened or contemplated action that might lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors, or shareholders, or the administration of any proceeding under this chapter.  (2) The receiver may apply to any court outside of the State for the relief described in this subsection.  (B) After the seventh day following the commencement of a delinquency proceeding involving an insurer-member domiciled in this State, the insurer-member's FHLB must not be stayed or prohibited from exercising its rights regarding collateral pledged by that insurer-member. The provisions of this subsection apply notwithstanding another provision of this chapter.  HISTORY: Former 1976 Code Section 38-27-70 [1962 Code Section 37-1307; 1967 (55) 273] recodified as Section 38-39-60 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1850 [En, 1982 Act No. 384, Section 5] recodified as Section 38-27-70 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609; 2016 Act No. 190 (S.693), Section 3, eff May 26, 2016.  Effect of Amendment  2016 Act No. 190, Section 3, redesignated former (a) as (A)(1); redesignated former (a)(1) through (a)(11) as (a) through (k); redesignated former (b) as (a)(2); added (B); and made other nonsubstantive changes.
SC Code § 38-27-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-80. Cooperation of officers, owners, and employees.

 (a) Any officer, manager, director, trustee, owner, employee, or agent of any insurer or any other person with authority over or in charge of any segment of the insurer's affairs must cooperate with the director or his designee in any proceeding under this chapter or any investigation preliminary to the proceeding. The term "person" as used in this section includes any person who exercises control directly or indirectly over activities of the insurer through any holding company or other affiliate of the insurer. "To cooperate" includes, but is not limited to:  (1) To reply promptly in writing to any inquiry from the director or his designee requesting a reply.  (2) To make available to the director or his designee any books, accounts, documents, or other records or information or property of or pertaining to the insurer and in his possession, custody, or control.  (b) No person may obstruct or interfere with the director or his designee in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto.  (c) This section may not be construed to abridge otherwise existing legal rights, including the right to resist a petition for liquidation or other delinquency proceedings, or other orders.  (d) Any person included within subsection (a) who fails to cooperate with the director or his designee, or any person who obstructs or interferes with the director or his designee in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto, or who violates any valid order the director or his designee issues under this chapter may:  (1) upon conviction, be sentenced to pay a fine not exceeding ten thousand dollars or to undergo imprisonment for a term of not more than one year, or both, or  (2) after a hearing, be subject to the imposition by the director or his designee of a civil penalty not to exceed ten thousand dollars and be subject further to the revocation or suspension of any insurance licenses issued by the director or his designee.  HISTORY: Former 1976 Code Section 38-27-80 [1962 Code Section 37-1308; 1967 (55) 273] recodified as Section 38-39-70 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1860 [1982 Act No. 384, Section 6] recodified as Section 38-27-80 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609.
SC Code § 38-27-90 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-90. Bonds.

 In any proceeding under this chapter, the director and his designee(s) are responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the assets, it may at any time require an additional bond from the director or his designee(s). These bonds must be paid for out of the assets of the insurer as a cost of administration.  HISTORY: Former 1976 Code Section 38-27-90 [1962 Code Section 37-1309; 1967 (55) 273; 1971 (57) 709, 937; 1980 Act No. 455; 1982 Act No. 378; 1983 Act No. 34; 1985 Act No. 37] recodified as Section 38-39-80 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1870 [1982 Act No. 384, Section 7] recodified as Section 38-27-90 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609.
SC Code § 38-27-100 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-100. Proceedings initiated prior to effective date of Insurers Supervision, Rehabilitation, and Liquidation Act.

 An insurance proceeding under this chapter begun before the effective date of the Insurers Rehabilitation and Liquidation Act is deemed to have begun after that date for the purpose of conducting the proceeding. However, in the discretion of the director or his designee, the proceeding may be continued, in whole or in part, as it would have been if this act was not in effect.  HISTORY: 1991 Act No. 13, Section 4; 1993 Act No. 181, Section 609.
SC Code § 38-27-110 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 27 - Insurers' Rehabilitation And Liquidation Act|Section 38-27-110. Disabilities of delinquent insurer pending repayment to guaranty association.

 Until payments of or on account of an insurer's contractual obligations by a guaranty association, including expenses and interest, are repaid to the guaranty association or a plan of repayment by the insurer is approved by the guaranty association, no insurer that is subject to a delinquency proceeding, whether formal or informal, administrative or judicial, may:  (1) be released from the proceeding unless it is converted into a judicial rehabilitation or liquidation proceeding;  (2) be permitted to solicit or accept new business or request or accept the restoration of a suspended or revoked license or certificate of authority;  (3) be returned to the control of its shareholders or private management; or  (4) have its assets returned to the control of its shareholders or private management.  HISTORY: 1991 Act No. 13, Section 4; 1993 Act No. 181, Section 609.