South Carolina § 38-29-30 - Declaration of purpose.
Full text of South Carolina South Carolina Code of Laws § 38-29-30 — Declaration of purpose., with citation guidance and answers to common questions.
§ 38-29-30. Declaration of purpose.
(1) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in Section 38-29-40(1) against failure in the performance of contractual obligations of certain life, health, and annuity policies, plans, or contracts due to the impairment or insolvency of the member insurer issuing these policies, plans, or contracts.
(2) To provide this protection, an association of member insurers is created to pay benefits and continue coverage in the manner provided for in this chapter and the member insurers are subject to an assessment to provide funds to carry out this purpose.
HISTORY: Former 1976 Code SECTION 38-29-30 [1962 Code SECTION 37-1402; 1971 (57) 351; 1986 Act No. 426, SECTION 2] recodified as SECTION 38-21-30 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-17-30 [1962 Code SECTION 37-562; 1972 (57) 2776] recodified as SECTION 38-29-30 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 631; 2020 Act No. 121 (S.580), SECTION 1.A, eff March 24, 2020.
Editor's Note
2020 Act No. 121, SECTION 1.B, provides as follows:
"[1.]B. The amendments made by this act do not apply to a member insurer that has been placed under an order of rehabilitation or liquidation before July 1, 2020."
Effect of Amendment
2020 Act No. 121, SECTION 1.A, rewrote the section.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-29-30
What does South Carolina Code of Laws § 38-29-30 cover?
Section 38-29-30 ("Declaration of 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 § 38-29-30?
A common citation format is "South Carolina Code of Laws § 38-29-30" (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 § 38-29-30 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.