South Carolina § 38-9-120 - Exchange of deposited securities.
Full text of South Carolina South Carolina Code of Laws § 38-9-120 — Exchange of deposited securities., with citation guidance and answers to common questions.
§ 38-9-120. Exchange of deposited securities.
A depositing insurer may exchange for the deposited securities, or any of them, other securities eligible for deposit under Sections 38-9-80 to 38-9-140 if, in the opinion of the director or his designee, the aggregate value of the deposit will not be reduced below the amount required by law.
HISTORY: Former 1976 Code SECTION 38-9-120 [1918 (30) 763; 1919 (31) 133; Civ. C. '22 SECTION 5461; 1932 Code SECTION 9049; 1934 (38) 1493; 1942 Code SECTION 9049; 1952 Code SECTION 37-149.1; 1952 (47) 1893; 1955 (49) 152; 1962 Code SECTION 37-149.1; 1973 (58) 335] has no comparable provisions in 1987 Act No. 155; Former 1976 Code SECTION 38-5-720 [1962 Code SECTION 37-185.5; 1962 (52) 2148] recodified as SECTION 38-9-120 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 535.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-9-120
What does South Carolina Code of Laws § 38-9-120 cover?
Section 38-9-120 ("Exchange of deposited securities.") 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 § 38-9-120?
A common citation format is "South Carolina Code of Laws § 38-9-120" (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 § 38-9-120 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.