There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 75 - PROPERTY, CASUALTY, AND TITLE INSURANCE GENERALLY
Section 38-75-910 - Limitation of risk on title insurance.
SC Code § 38-75-910 (2012) What's This?
No insurer transacting title insurance business in this State may expose itself to any one risk in an amount exceeding fifty percent of the aggregate amount of its total capital and surplus and its reserves other than its loss or claim reserves. As used in this section, the words "any one risk" mean the risk or hazard attaching to or arising in connection with any one piece or parcel of property, whether or not the policy insures other property. Any risk or portion of any risk which has been reinsured as authorized in this title must be deducted in determining the limitation of risk prescribed in this section.
HISTORY: Former 1976 Code Section 38-9-185 [1980 Act No. 402] recodified as Section 38-75-910 by 1987 Act No. 155, Section 1.
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