reglab/housing_qa huggingface dataset:
SC Code § 38-38-350 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-350. Application of laws of State.

 (A) For certificates issued before the effective date of this chapter, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted must comply with the provisions of law applicable immediately before the effective date of this chapter.  (B) For certificates issued on or after the effective date of this chapter, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted must comply with the provisions of law applicable to life insurers issuing policies containing like benefits in this State.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-410 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-410. Authorized investments.

 A society shall invest its funds only in investments authorized by the laws of this State for the investment of assets of life insurers and subject to the limitations on those investments. A foreign or alien society permitted or seeking to do business in this State which invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated shall comply with the requirements of this section for the investment of funds.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-420 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-420. Assets to be held for use and benefit of society; special funds and accounts.

 (A) All assets must be held, invested, and disbursed for the use and benefit of the society, and a member or beneficiary may not have or acquire individual rights in the assets or become entitled to an apportionment on the surrender of a part of the assets, except as provided in the benefit contract.  (B) A society may create, maintain, invest, disburse, and apply a special fund or funds necessary to carry out a purpose permitted by the bylaws of the society.  (C) A society may, pursuant to resolution of its supreme governing body, establish and operate one or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing these accounts and issuing these contracts. To the extent the society considers it necessary in order to comply with applicable federal or state laws or regulations issued pursuant to federal or state laws, the society may (1) adopt special procedures for the conduct of the business and affairs of a separate account; (2) for persons having beneficial interests in the separate accounts, provide special voting and other rights including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accounts, and selection of a committee to manage the business and affairs of the account; and (3) issue contracts on a variable basis, in which case Section 38-38-340(B) and (D) do not apply.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-430 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-430. Governance by chapter.

 Societies and associations described in Section 38-38-730(A)(8) are governed by this chapter and are exempt from all other provisions of the insurance laws of this State, unless expressly designated or specifically made applicable by this chapter.  HISTORY: 2000 Act No. 259, Section 1; 2008 Act No. 193, Section 2, eff April 2, 2008.
SC Code § 38-38-440 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-440. Designation as charitable and benevolent institution.

 Every society organized or licensed under this chapter is declared to be a charitable and benevolent institution, and all of its funds are exempt from every state, county, district, municipal, and school tax other than taxes on real estate not occupied by the society in carrying on its business.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-510 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-510. Standards of valuation for certificates; maintenance of excess reserves.

 (A) Standards of valuation for certificates issued before the effective date of this chapter are those provided by the laws applicable immediately before the effective date of this chapter.  (B) The minimum standards of valuation for certificates issued on or after the effective date of this chapter are based upon the tables, valuation methods and standards, including interest assumptions, specified in the laws of this State applicable to life and health insurers issuing policies containing like benefits.  (C) The director or his designee may, in his discretion, accept other standards for valuation if he finds that the reserves produced will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard prescribed in this section. The director or his designee may, in his discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extra hazardous lives by a society authorized to do business in this State.  (D) A society, with the consent of the director of insurance, or similar official, of the state of domicile of the society and under conditions, if any, which the director may impose, may establish and maintain reserves on its certificates in excess of the required reserves, but the contractual rights of a benefit member shall not be affected.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-520 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-520. Required statements and reports; penalties.

 (A) Every society annually shall file with the department by March first, in the form and detail the director or his designee prescribes, a statement showing the business standing and financial condition of the society on December thirty-first of the preceding year, except that upon timely written request by the chief managing agent or officer setting forth reasons why the statement cannot be filed within the time provided, the director or his designee may grant in writing an extension of filing time for not more than thirty days. This statement must conform substantially to the form of statement adopted by the National Association of Insurance Commissioners. Unless the director or his designee provides otherwise, the annual statement is to be prepared in accordance with the annual statement instructions and the Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners.  (B) The director or his designee may require every society to file quarterly reports and additional information considered necessary to enable the director or his designee to carry out his duties under this chapter. The reports and information must be furnished in the time and manner prescribed by the director or his designee.  (C) On or before March first, as part of the annual statement, each society shall file with the director or his designee a valuation of its certificates in force on December thirty-first of the previous calendar year. However, the director or his designee, in his discretion for cause shown, may extend the time for filing the valuation for not more than two calendar months. The valuation and underlying data must be certified by a qualified actuary or, at the expense of the society, verified by a qualified actuary of or retained by the Department of Insurance of the state of domicile of the society.  (D) A society neglecting to file the annual statement in the form and within the time provided by this section is subject to the penalties set forth in Section 38-2-10.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-530 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-530. Renewal of licenses; fees; license as prima facie evidence.

 The authority of a fraternal benefit association authorized to transact business in this State which complies with this chapter terminates the last day of February. However, a license continues in effect until a new license is issued or specifically refused. For each license or renewal the association shall pay the department one thousand dollars every two years. However, if the association has less than two hundred members, it shall pay the department a fee of one hundred dollars every two years for its license or renewal. A certified copy or duplicate of the license is prima facie evidence that the licensee is a fraternal benefit association within the meaning of this chapter.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-540 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-540. Examination; notice of examination.

 (A) The director or his designee may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in this State in the same manner as authorized for examination of domestic, foreign, or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers are also applicable to the examination of societies.  (B) The provisions of Section 38-13-20(D) shall apply with regard to examinations.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-560 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-560. Operating deficiencies of domestic society; notice and correction; voluntarily discontinuing business.

 (A) When the director or his designee upon investigation finds that a domestic society has exceeded its powers, has failed to comply with a provision of this chapter, is not fulfilling its contracts in good faith, has a membership of less than four hundred after an existence of one year or more, or is conducting business fraudulently or in a manner hazardous to its members, creditors, or the public, the director or his designee shall notify the society of the deficiency or deficiencies and state in writing the reasons for his dissatisfaction. The director or his designee simultaneously shall issue a written notice to the society requiring that the deficiencies which exist be corrected. After this notice the society has thirty days in which to comply with the director or his designee's request for correction, and if the society fails to comply, the director or his designee may take action as necessary and appropriate under Chapter 26 or 27 of this title or Section 38-38-570.  (B) The director or his designee may take action as necessary and appropriate under this section as respects a domestic society which voluntarily shall determine to discontinue business.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-570 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-570. Operating deficiencies of foreign society; notice and correction; hearing; revocation of authority to do business; continuation of contracts.

 (A) When the director or his designee upon investigation finds that a foreign or alien society transacting or applying to transact business in this State (1) has exceeded its powers, (2) has failed to comply with any of the provisions of this chapter, (3) is not fulfilling its contracts in good faith, or (4) is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public, the director or his designee shall notify the society of the deficiencies and state in writing the reasons for his dissatisfaction. The director or his designee shall issue a written notice at once to the society requiring that the deficiencies which exist are corrected. The director shall issue a written notice to the society the nature of the alleged violations committed not less than thirty days before revoking its authority to do business in this State. The director or his designee must specify in the notice the particulars of the alleged violation of the law or its charter or grounds for revocation and an opportunity must be offered to the society for a hearing. The director or his designee may, in lieu of license revocation or suspension provided in Section 38-2-10, impose a monetary penalty as provided in Section 38-2-10 for each violation or failure of compliance or refusal to submit or perform as prescribed therein. Series of acts by a society which merely implement a basic violation and are not separate and distinct violations of an independent nature are considered to be a part of the basic violation and only one penalty may be imposed thereon . If on the named date the society does not present good and sufficient reason why its authority to do business in this State should not be suspended, revoked, or refused, the director or his designee may suspend or refuse the license of the society to do business in this State until satisfactory evidence is furnished to the director or his designee that the suspension or refusal should be withdrawn, or the director or his designee may revoke the authority of the society to do business in this State.  (B) Nothing contained in this section may be construed as preventing any society from continuing in good faith all contracts made in this State during the time the society was legally authorized to transact business in this State.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-580 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-580. Injunctions.

 Whenever the director or his designee believes, from evidence satisfactory to him, that a society is violating or about to violate this title, the director or his designee may, through the Attorney General or upon his own initiative, cause a complaint or petition for an injunction against a domestic, foreign, or alien society or lodge of a domestic, foreign, or alien society to be filed in the court of common pleas of Richland County to enjoin and restrain the society from continuing the violation, engaging in the violation, or doing any act in furtherance of the violation. The court has jurisdiction of the proceeding and has the power to make and enter an order or judgment awarding preliminary or final injunctive relief as in its judgment is proper.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-590 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-590. Licensing of agents.

 Agents of societies must be licensed in accordance with and comply with the provisions of Chapter 43 and any other applicable provision of this title.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-600 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-600. Applicability of general insurance provisions; membership requirements exception.

 Every society authorized to do business in this State is subject to Chapters 55, 57, and 59 of this title. However, nothing in Chapters 55, 57, and 59 may be construed as applying to or affecting the right of a society to determine its eligibility requirements for membership, or be construed as applying or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of the society.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-710 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-710. Appointment of director as legal attorney for service of process.

 Every society shall, before being licensed, appoint in writing the director and his successors in office to be its true and lawful attorney upon whom all legal process in any action or proceeding against it must be served and in this writing shall agree that lawful process against it which is served upon this attorney is of the same legal force and validity as if served upon the society and that the authority continues in force so long as any liability remains outstanding in the State. Copies of the appointment, certified by the director, are sufficient evidence of the appointment and must be admitted in evidence with the same force and effect as the original might be admitted. Service upon a society must also comply with the requirements of Section 15-9-270 and any other applicable provisions of Title 15.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-720 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-720. False statement or misrepresentation with intent to defraud; penalties.

 Any person or insurer who makes a false statement or misrepresentation, and any other person knowingly, with an intent to injure, defraud, or deceive, who assists, abets, solicits, or conspires with such person or insurer to make a false statement or misrepresentation, is guilty of a:  (1) misdemeanor, for a first offense violation, if the amount of the economic advantage benefit received is less than one thousand dollars. Upon conviction, the person must be punished by a fine not to exceed five hundred dollars or by imprisonment not to exceed thirty days;  (2) misdemeanor, for a first offense violation, if the amount of the economic advantage benefit received is one thousand dollars or more. Upon conviction, the person must be punished by a fine not to exceed fifty thousand dollars or by imprisonment for a term not to exceed three years, or by both such fine and imprisonment;  (3) felony, for a second or subsequent violation, regardless of the amount of the economic advantage benefit received. Upon conviction, the person must be punished by a fine not to exceed fifty thousand dollars or by imprisonment for a term not to exceed ten years, or by both such fine and imprisonment.  Any person or insurer convicted under this section must be ordered to make full restitution to the victim or victims for any economic advantage or benefit which has been obtained by the person or insurer as a result of that violation.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-38-730 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-730. Societies and associations exempted from provisions of chapter.

 (A) This chapter does not apply to the following:  (1) associations which limit their memberships to one hazardous occupation;  (2) similar societies which do not issue insurance certificates;  (3) an association of local lodges of an association;  (4) the ladies' societies or ladies' auxiliaries to these societies or associations, doing business in this State on May 12, 1947, which provide death benefits not exceeding five hundred dollars to a person or disability benefits not exceeding three hundred dollars in one year to one person, or both;  (5) contracts or reinsurance business on these plans in this State;  (6) domestic associations which limit their memberships to the employees of a particular city or town or designated firm, business, house, or corporation;  (7) domestic lodges, orders, or associations of a purely religious, charitable, and benevolent description which do not provide for a death benefit of more than one hundred dollars or for disability benefits of more than one hundred fifty dollars to one person in one year;  (8) an association, whether a fraternal benefit society or not, which was organized before 1880 and whose members are officers or enlisted, regular or reserve, active, retired, or honorably discharged members of the Armed Forces or Sea Services of the United States, and a principal purpose of which is to provide insurance and other benefits to its members and their dependents or beneficiaries.  (B) The director or his designee may require from a society or an association, by examination or otherwise, information that will enable the director or his designee to determine whether the society or association is exempt from the provisions of this chapter.  HISTORY: 2000 Act No. 259, Section 1; 2008 Act No. 193, Section 3, eff April 2, 2008.
SC Code § 38-38-740 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 38 - Fraternal Benefit Societies|Section 38-38-740. Review of findings of director.

 All decisions and findings of the director or his designee made under the provisions of this chapter are subject to review as set forth in Chapter 3 of this title.  HISTORY: 2000 Act No. 259, Section 1.
SC Code § 38-39-10 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 39 - Insurance Premium Service Companies|Section 38-39-10. Application of chapter.

 This chapter does not apply to:  (a) an insurer authorized to do business in this State;  (b) a banking institution, savings and loan association, cooperative credit union, consumer finance company provided for in Sections 34-29-10 to 34-29-260 authorized to do business in this State, or a supervised lender provided for in Title 37 authorized to do business in this State;  (c) the inclusion of a charge for insurance in connection with an installment sale of goods or services;  (d) the advancing of premiums by insurance agents and producers of record under Article 3, Chapter 43 of this title.  HISTORY: Former 1976 Code Section 38-39-10 [1962 Code Section 37-772; 1971 (57) 744] recodified as Section 38-75-310 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-27-20 [1962 Code Section 37-1301; 1967 (55) 273] recodified as Section 38-39-10 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 653; 1999 Act No. 66, Section 22.
SC Code § 38-39-20 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 39 - Insurance Premium Service Companies|Section 38-39-20. License required; fee; interrogatories.

 (a) No person may engage in the business of servicing insurance premiums in this State without first obtaining a license from the director or his designee. Any person who engages in the business of servicing insurance premiums in this State without obtaining a license is guilty of a misdemeanor. Each transaction constitutes a separate offense.  (b) The biennial license fee is one thousand dollars payable to the department by March 1, 2010, and biennially after that time. These funds are to be deposited in the general fund of the State.  (c) The person to whom the license is issued shall file sworn answers, subject to the penalties of perjury, to any interrogatories the director or his designee may require. The director or his designee has authority to require the applicant to disclose the identity of all stockholders, partners, officers, and employees. He may refuse to issue or renew a license in the name of any firm, partnership, or corporation if he is not satisfied that any officer, employee, stockholder, or partner of it who may materially influence the applicant's conduct meets the standards of this chapter.  HISTORY: Former 1976 Code Section 38-39-20 [1962 Code Section 37-771; 1971 (57) 744] recodified as Section 38-75-320 by 1987 Act No. 155, Section 1; 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; 1988 Act No. 374, Section 14; 1993 Act No. 181, Section 653; 2009 Act No. 69, Section 2, eff June 2, 2009.