An insurer which executes any bond or undertaking of surety under this chapter is estopped, in any proceeding to enforce the liability which it has assumed to incur, from denying its corporate power to execute the bond or assume the liability.
S.C. Code Ann. § 38-15-70
Estoppel to deny power to execute bond or assume liability
Former 1976 Code SECTION 38-15-70 [1962 Code SECTION 37-767; 1960 (51) 1664] recodified as SECTION 38-19-890 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-13-90 [1…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.