South Carolina § 38-19-1180 - Dividends and distributions; effect of adoption or implementation of plan of reorganization.
Full text of South Carolina South Carolina Code of Laws § 38-19-1180 — Dividends and distributions; effect of adoption or implementation of plan of reorganization., with citation guidance and answers to common questions.
§ 38-19-1180. Dividends and distributions; effect of adoption or implementation of plan of reorganization.
A mutual insurance holding company shall not be authorized to pay dividends or make distributions except as may be expressly approved by the Director of the Department of Insurance. Neither the adoption nor the implementation of a plan of reorganization shall be considered to give rise to an obligation on behalf of a mutual insurance holding company to make a distribution or payment to a member or policyholder, or to another person, board, or entity of any nature whatsoever, in connection with the ownership, control, benefits, policies, purpose, or nature of the mutual insurance company, or otherwise.
HISTORY: 1998 Act No. 413, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-19-1180
What does South Carolina Code of Laws § 38-19-1180 cover?
Section 38-19-1180 ("Dividends and distributions; effect of adoption or implementation of plan of reorganization.") 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 § 38-19-1180?
A common citation format is "South Carolina Code of Laws § 38-19-1180" (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 § 38-19-1180 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.