South Carolina Code 38-38-730. Societies and associations exempted from provisions of chapter
(1) associations which limit their memberships to one hazardous occupation;
Terms Used In South Carolina Code 38-38-730
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Director: means the Director of the Department of Insurance of this State. See South Carolina Code 38-38-40
- insurance: includes annuities. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
- Society: means fraternal benefit society, unless otherwise indicated. See South Carolina Code 38-38-40
(2) similar societies which do not issue insurance certificates;
(3) an association of local lodges of an association;
(4) the ladies’ societies or ladies’ auxiliaries to these societies or associations, doing business in this State on May 12, 1947, which provide death benefits not exceeding five hundred dollars to a person or disability benefits not exceeding three hundred dollars in one year to one person, or both;
(5) contracts or reinsurance business on these plans in this State;
(6) domestic associations which limit their memberships to the employees of a particular city or town or designated firm, business, house, or corporation;
(7) domestic lodges, orders, or associations of a purely religious, charitable, and benevolent description which do not provide for a death benefit of more than one hundred dollars or for disability benefits of more than one hundred fifty dollars to one person in one year;
(8) an association, whether a fraternal benefit society or not, which was organized before 1880 and whose members are officers or enlisted, regular or reserve, active, retired, or honorably discharged members of the Armed Forces or Sea Services of the United States, and a principal purpose of which is to provide insurance and other benefits to its members and their dependents or beneficiaries.
(B) The director or his designee may require from a society or an association, by examination or otherwise, information that will enable the director or his designee to determine whether the society or association is exempt from the provisions of this chapter.