(a) "association" means the joint underwriting association established pursuant to the provisions of this act.
(b) "automobile insurance" means direct insurance against injury or damage arising out of the ownership, operation, maintenance, or use of motor vehicles, or insurance against loss for damage to motor vehicles. Private passenger automobile insurance and commercial automobile insurance are two distinct kinds of automobile insurance.
(c) "director" means the director of the Department of Insurance.
(d) "plan of operation" means the plan of operation approved pursuant to the provisions of this act or ordered by the director.
(e) "qualified applicant" means (1) a resident of this State who owns a motor vehicle registered in this State or has a valid driver's license or is required to file proof of financial responsibility in order to register his motor vehicle or obtain a driver's license, or (2) a nonresident of this State who owns a vehicle registered or principally garaged in this State; provided, however, that no one shall be a qualified applicant if he has any unpaid premium due for prior automobile insurance or if any person who usually drives the motor vehicle to be insured does not hold or is not eligible to obtain a driver's license under suspension.
(f) "residual market mechanism" means a means of providing a market for insureds in South Carolina where the voluntary market is inadequate.