While the certificate of authority is suspended, no domestic insurer or any of its officers may pay out any funds belonging to the insurer without first receiving the director's or his designee's approval.
S.C. Code Ann. § 38-5-150
Funds may not be paid during suspension without approval
Former 1976 Code SECTION 38-5-150 [1947 (45) 322; 1952 Code SECTION 37-111; 1962 Code SECTION 37-111] has no comparable provisions in 1987 Act No. 155; Former 1976 Code SECTION …
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.