South Carolina § 38-19-650 - Director's approval required for repayment.
Full text of South Carolina South Carolina Code of Laws § 38-19-650 — Director's approval required for repayment., with citation guidance and answers to common questions.
§ 38-19-650. Director's approval required for repayment.
No repayment of the loan may be made unless approved by the director or his designee. The insurer shall notify the director or his designee in writing not less than sixty days in advance of its intention to repay the loan or any part of it. The director or his designee shall immediately ascertain whether the insurer's financial condition is such that the repayment can properly be made.
HISTORY: Former 1976 Code SECTION 38-11-850 [1947 (45) 322; 1952 Code SECTION 37-425; 1962 Code SECTION 37-425] recodified as SECTION 38-19-650 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 559.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-19-650
What does South Carolina Code of Laws § 38-19-650 cover?
Section 38-19-650 ("Director's approval required for repayment.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 38-19-650?
A common citation format is "South Carolina Code of Laws § 38-19-650" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-19-650 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.