{"data":{"id":"us-sc/s.c.-code-ann.-38-27-360","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-27-360","heading":"Grounds for liquidation.","body":"The director or his designee may petition the circuit court as provided by law for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this State on the basis:\n(1) of any ground for an order of rehabilitation as specified in Section 38-27-310, whether or not there has been a prior order directing the rehabilitation of the insurer;\n(2) that the insurer is insolvent; or\n(3) that the insurer is in such a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.","path":["Title 38 - INSURANCE","CHAPTER 27 Insurers' Rehabilitation and Liquidation Act","ARTICLE 5 Formal Proceedings"],"source_url":"https://www.scstatehouse.gov/code/t38c027.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:12:29Z","sha256":"6dec434b7049cf7a8aad46a2bbfc5fe4ceca13c089e4cfdf8d19c9089d28920b","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-27-350","next":"us-sc/s.c.-code-ann.-38-27-370"},"notice":"GroundRules: Original legal text. Not legal advice."}