South Carolina Code 38-75-50. Clause limiting or invalidating policies if property is encumbered is void
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-75-50
- insurance: includes annuities. See South Carolina Code 38-1-20
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Policy: means a contract of insurance. See South Carolina Code 38-1-20
Any clause in any policy of insurance purporting or undertaking to limit or invalidate the force of the policy in case of encumbrance by real estate mortgage of the property insured by the policy is void.