SC Code of Laws

Chapter 90 - Captive Insurance Companies*

Section	Description
10	Definitions
20	Licensing; required information and documentation; fee; renewal
30	Adoption of name
35	Discovery of confidential information in civil actions.
40	Capitalization requirements
60	Incorporation options and requirements
70	Reports
75	Discounting of loss and loss adjustment expense reserves
80	Inspections and examinations; confidentiality of reports; limitations applicable to branch captive insurance companies; application of general provisions
90	Suspension or revocation of license
100	Applicability of investment requirements
105	Loans
110	Reinsurance; effect on reserves
120	Requirement to join ratings organization
130	Participation in plan, pool, association, or guaranty or insolvency fund
140	Tax payment; rates; “common ownership and control" defined
150	Rules, regulations, and orders
160	Application of provisions of title; director discretion; exemption of special purpose captive insurance companies
165	Declaration of inactivity
175	Captive Insurance Regulatory and Supervision Fund created; disbursements
180	Applicability of provisions relating to insurance reorganizations, receiverships, and injunctions; sponsored captive insurance company assets and capital provisions
200	Conversion of certain stock, mutual corporations, or limited liability companies into reciprocal insurers; plan for conversion
210	Formation of sponsored captive insurance company; establishing protected cells
215	Protected cells
220	Requirements applicable to sponsors
225	Participants in sponsored captive insurance companies
230	Protected cell assets; availability to creditors
250	Certificate of authority

Chapter 87 - Risk Retention Groups and Purchasing Groups

Section	Description
10	Purpose
20	Definitions
30	Chartering of risk retention groups; submission of plan of operation; revisions of plan; information required
40	Out of state chartered risk retention groups; requirements for doing business in state
50	Participation by risk retention groups and purchasing groups in state insurance insolvency guaranty fund
70	Purchasing group and insurer subject to all applicable state laws; exceptions
80	Purchasing group; notice of intent to do business; notice of changes; designation of commissioner as agent for service; exceptions; additional information
90	Purchase of insurance from non state chartered group or non state admitted insurer; notice requirements; deductible or self insured retention not permitted; aggregate limits on purchase
100	Premium taxes
110	Powers of Chief Insurance Commissioner; applicable procedures; injunctive relief
120	License required to solicit, negotiate or procure liability insurance; notice to insured
130	U.S. District Court injunctions enforceable in state courts
140	Rules and regulations