South Carolina § 38-55-100 - Tontine plans prior to May 12, 1947.
Full text of South Carolina South Carolina Code of Laws § 38-55-100 — Tontine plans prior to May 12, 1947., with citation guidance and answers to common questions.
§ 38-55-100. Tontine plans prior to May 12, 1947.
A life insurer, mutual aid association, or fraternal benefit association operating prior to May 12, 1947, on a plan prohibited by SECTION 38-55-90 in this State may continue so to do upon condition that the life insurer, fraternal benefit association, or mutual aid association does not establish its policyholders or members into divisions or classes other than the divisions or classes in this State actually existing on May 12, 1947. However, a life insurer, fraternal benefit association, or mutual aid association is not permitted to operate on an endowment plan unless it has a paid-in capital stock, if a stock company, or a surplus, if a mutual company or fraternal benefit association, of at least fifty thousand dollars.
HISTORY: Former 1976 Code SECTION 38-55-100 [1947 (45) 322; 1952 Code SECTION 37-1202; 1962 Code SECTION 37-1210; 1964 (53) 2293] recodified as SECTION 38-57-100 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-160 [1947 (45) 322; 1952 Code SECTION 37-151; 1962 Code SECTION 37-151] recodified as SECTION 38-55-100 by 1987 Act No. 155, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-55-100
What does South Carolina Code of Laws § 38-55-100 cover?
Section 38-55-100 ("Tontine plans prior to May 12, 1947.") 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 § 38-55-100?
A common citation format is "South Carolina Code of Laws § 38-55-100" (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 § 38-55-100 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.