The director or his designee shall require every reciprocal exchange to provide security deposits pursuant to Sections 38-9-80 to 38-9-140 as required for other insurers doing business in this State.
S.C. Code Ann. § 38-17-50
Deposit of securities
Former 1976 Code SECTION 38-17-50 [1962 Code SECTION 37-566; 1972 (57) 2776] recodified as SECTION 38-29-50 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-45-50 [19…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.