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SC Code of Laws
These are for your information only. The online version of the South Carolina Code can be found here. The authoritative versions are available in print from Thomson Reuters.
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 |