Terms Used In South Carolina Code > Title 38 > Chapter 2 - Penalties

• Affordable housing: means residential housing that, so long as the same is occupied by lower or very low income households, requires payment of monthly housing costs of no more than thirty percent of one-twelfth adjusted annual income. See South Carolina Code 31-13-410
• Board: means the Board of Commissioners of the South Carolina State Housing Finance and Development Authority. See South Carolina Code 31-13-410
• Conviction: A judgement of guilt against a criminal defendant.
• Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
• 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
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• fund: means the South Carolina Housing Trust Fund. See South Carolina Code 31-13-410
• insurance: includes annuities. See South Carolina Code 38-1-20
• 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
• License: means a document issued by the state's director or his designee authorizing a person to act as an insurance producer for the lines of authority specified in the document. See South Carolina Code 38-1-20
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• 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
• State: means the State of South Carolina. See South Carolina Code 31-13-170