No life insurer may be licensed to write any other kinds of insurance listed in Section 38-5-30 except accident and health insurance. However, any life insurer licensed to transact other kinds of insurance immediately prior to March 18, 1964, shall continue to be so licensed if otherwise qualified. HISTORY: Former 1976 Code Section 38-5-40 [1962 Code Section 37-109.2; 1964 (53) 2051] recodified as Section 38-5-50 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-30 [1962 Code Section 37-109.1; 1964 (53) 2051] recodified as Section 38-5-40 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533.
South Carolina Legal Code