{"data":{"id":"us-sc/s.c.-code-ann.-38-29-50","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-29-50","heading":"Association created; membership as a condition of authority to transact insurance; accounts; supervision.","body":"(1) There is created a nonprofit legal entity to be known as the South Carolina Life and Accident and Health Insurance Guaranty Association. All member insurers are and must remain members of the association as a condition of their authority to transact insurance in this State. The association shall perform its functions under the plan of operation established and approved under Section 38-29-90 and shall exercise its powers through a board of directors established under Section 38-29-60. For purposes of administration and assessment, the association shall maintain three accounts:\n(a) the accident and health insurance account;\n(b) the life insurance account; and\n(c) the annuity account.\n(2) The association is under the immediate supervision of the department and is subject to the applicable insurance laws of this State.","path":["Title 38 - INSURANCE","CHAPTER 29 South Carolina Life and Accident and Health Insurance Guaranty Association"],"source_url":"https://www.scstatehouse.gov/code/t38c029.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:12:34Z","sha256":"1fb68415971b40a7a65f83b5117af6ff54e1c9c852e43d6cf0372a8f7f988b2e","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-29-40","next":"us-sc/s.c.-code-ann.-38-29-60"},"notice":"GroundRules: Original legal text. Not legal advice."}