South Carolina § 38-27-990 - Interstate priorities.
Full text of South Carolina South Carolina Code of Laws § 38-27-990 — Interstate priorities., with citation guidance and answers to common questions.
§ 38-27-990. Interstate priorities.
(a) In a liquidation proceeding in this State involving one or more reciprocal states, the order of distribution of the domiciliary state controls as to all claims of residents of this State and reciprocal states. All claims of residents of reciprocal states are given equal priority of payment from general assets regardless of where the assets are located.
(b) The owner of a secured claim against an insurer for which a liquidator has been appointed in this State or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with SECTION 38-27-600, in which case the deficiency, if any, is treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
HISTORY: Former 1976 Code SECTION 38-5-2490 [1982 Act No. 384, SECTION 58] recodified as SECTION 38-27-990 by 1987 Act No. 155, SECTION 1.
Frequently Asked Questions About South Carolina § 38-27-990
What does South Carolina Code of Laws § 38-27-990 cover?
Section 38-27-990 ("Interstate priorities.") 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 § 38-27-990?
A common citation format is "South Carolina Code of Laws § 38-27-990" (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 § 38-27-990 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.