Terms Used In South Carolina Code > Title 33 > Chapter 16 > Article 1 - Records

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the South Carolina Property and Casualty Insurance Guaranty Association created under § 38-31-40. See South Carolina Code 38-31-20
• 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 person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
• insurance: includes annuities. See South Carolina Code 38-1-20
• Insured: means any named insured, any additional insured, any vendor, lessor, or any other party identified as an insured under the policy. See South Carolina Code 38-31-20
• Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member insurer: means any person who (a) writes any kind of insurance to which this chapter applies under § 38-31-30, including the exchange of reciprocal or interinsurance contracts, and (b) is licensed to transact insurance in this State. See South Carolina Code 38-31-20
• Terminate: means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance. See South Carolina Code 38-1-20
• Verdict: The decision of a petit jury or a judge.