South Carolina § 38-19-440 - Assessments for deficiencies.
Full text of South Carolina South Carolina Code of Laws § 38-19-440 — Assessments for deficiencies., with citation guidance and answers to common questions.
§ 38-19-440. Assessments for deficiencies.
If at any time the surplus of a domestic mutual insurer is less than the amount required by this title and the deficiency is not cured from other sources, its directors may with the approval of the director or his designee make an assessment on its members who, at any time within the twelve months immediately preceding the date the assessment was authorized by the directors, held policies providing for contingent liability. The director or his designee may refuse to approve the assessment if in his judgment refusal will best promote the interests of the insurer's members and creditors and of the insuring public.
HISTORY: Former 1976 Code SECTION 38-11-640 [1947 (45) 322; 1952 Code SECTION 37-404; 1962 Code SECTION 37-404] recodified as SECTION 38-19-440 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 553.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-19-440
What does South Carolina Code of Laws § 38-19-440 cover?
Section 38-19-440 ("Assessments for deficiencies.") 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 § 38-19-440?
A common citation format is "South Carolina Code of Laws § 38-19-440" (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 § 38-19-440 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.