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Section 38-27-90. Bonds.

SC Code § 38-27-90 (2019) (N/A)
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In any proceeding under this chapter, the director and his designee(s) are responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the assets, it may at any time require an additional bond from the director or his designee(s). These bonds must be paid for out of the assets of the insurer as a cost of administration.

HISTORY: Former 1976 Code Section 38-27-90 [1962 Code Section 37-1309; 1967 (55) 273; 1971 (57) 709, 937; 1980 Act No. 455; 1982 Act No. 378; 1983 Act No. 34; 1985 Act No. 37] recodified as Section 38-39-80 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-1870 [1982 Act No. 384, Section 7] recodified as Section 38-27-90 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 609.

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Section 38-27-100. Proceedings initiated prior to effective date of Insurers Supervision, Rehabilitation, and Liquidation Act.