Section 38-19-1170. Membership interest as security; transfer of interest.

SC Code § 38-19-1170 (2019) (N/A)
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A membership interest in a mutual insurance holding company does not constitute a security under the laws of the State of South Carolina. A membership interest in a mutual insurance holding company may not be transferred from the member to another person or entity.

HISTORY: 1998 Act No. 413, Section 1.