{"data":{"id":"us-sc/s.c.-code-ann.-38-19-1180","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-19-1180","heading":"Dividends and distributions; effect of adoption or implementation of plan of reorganization.","body":"A mutual insurance holding company shall not be authorized to pay dividends or make distributions except as may be expressly approved by the Director of the Department of Insurance. Neither the adoption nor the implementation of a plan of reorganization shall be considered to give rise to an obligation on behalf of a mutual insurance holding company to make a distribution or payment to a member or policyholder, or to another person, board, or entity of any nature whatsoever, in connection with the ownership, control, benefits, policies, purpose, or nature of the mutual insurance company, or otherwise.","path":["Title 38 - INSURANCE","CHAPTER 19 Domestic Mutual Insurers","ARTICLE 13 Reorganization of Mutual Insurers as Domestic Mutual Insurance Holding Company Systems"],"source_url":"https://www.scstatehouse.gov/code/t38c019.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:12:04Z","sha256":"5ef324c07a563e3735dcafaaf2c6ef351f53f427da5e6f610e18e31f11e5c5ee","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-19-1170","next":"us-sc/s.c.-code-ann.-38-19-1190"},"notice":"GroundRules: Original legal text. Not legal advice."}