Nonassessable plan applies to all policies.

S.C. Code Ann. § 38-19-480
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
The director or his designee may not authorize a domestic mutual insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued unless it qualifies to and does extinguish the liability of all its members and in all policies for all kinds of insurance transacted by it.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t38c019.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements