Nothing in this chapter precludes the director or his designee from initiating judicial proceedings to place an insurer in conservation, rehabilitation, or liquidation or other delinquency proceedings, however designated under the laws of this State, regardless of whether the director or his designee previously has initiated administrative supervision proceedings under this chapter against the insurer.
S.C. Code Ann. § 38-26-80
Other proceedings not precluded
Known as the Administrative Supervision of Insurers Act
The act spans §§ 38-26-10 to 38-26-90 (10 sections).
1991 Act No. 13, SECTION 3; 1993 Act No. 181, SECTION 608.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.