There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 14 - SPECIAL PURPOSE REINSURANCE VEHICLE MODEL ACT
Section 38-14-190 - Purchase of SPRV securities as transacting insurance business.
SC Code § 38-14-190 (2012) What's This?
The securities issued by the SPRV pursuant to a SPRV insurance securitization must not be deemed to be insurance or reinsurance contracts. An investor in such securities issued pursuant to a SPRV insurance securitization or any holder of such securities must not, by sole means of this investment or holding, be deemed to be transacting an insurance business in this State. The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives, and advisors involved in a SPRV insurance securitization must not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory, or consulting business by virtue of their activities in connection therewith.
HISTORY: 2002 Act No. 259, Section 1, eff May 20, 2002.
Disclaimer: These codes may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
