Upon dissolution and liquidation of the insurer the holders of such loan agreements remaining unpaid after the retirement of all the insurer's other outstanding obligations are entitled to payment before any distribution may be made to the insurer's members.
S.C. Code Ann. § 38-19-660
Rights of holders of loan upon dissolution
Former 1976 Code SECTION 38-11-860 [1947 (45) 322; 1952 Code SECTION 37-426; 1962 Code SECTION 37-426] recodified as SECTION 38-19-660 by 1987 Act No. 155, SECTION 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.