South Carolina § 38-27-30 - Purpose.
Full text of South Carolina South Carolina Code of Laws § 38-27-30 — Purpose., with citation guidance and answers to common questions.
§ 38-27-30. Purpose.
The purpose of this chapter is the protection of the interests of insureds, claimants, creditors, and the public generally, with minimum interference with the normal prerogatives of the owners and managers of insurers, through:
(1) Early detection of any potentially dangerous condition in an insurer and prompt application of appropriate corrective measures.
(2) Improved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry.
(3) Enhanced efficiency and economy of liquidation, through clarification of the law, to minimize legal uncertainty and litigation.
(4) Equitable apportionment of any unavoidable loss.
(5) Lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process and by extending the scope of personal jurisdiction over debtors of the insurer outside this State.
(6) Regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business.
HISTORY: Former 1976 Code SECTION 38-27-30 [1962 Code SECTION 37-1303; 1967 (55) 273; 1971 (57) 709; 1985 Act No. 4, SECTION 1] recodified as SECTION 38-39-20 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-1810 [1982 Act No. 384, SECTION 1] recodified as SECTION 38-27-30 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 609.
Frequently Asked Questions About South Carolina § 38-27-30
What does South Carolina Code of Laws § 38-27-30 cover?
Section 38-27-30 ("Purpose.") 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 § 38-27-30?
A common citation format is "South Carolina Code of Laws § 38-27-30" (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 § 38-27-30 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.