There is a newer version of the South Carolina Code of Laws
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 90 - CAPTIVE INSURANCE COMPANIES
Section 38-90-230 - Participants in sponsored captive insurance companies.


SC Code § 38-90-230 (2012) What's This?

(A) An association, a corporation, a limited liability company, a partnership, a trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed pursuant to this chapter.

(B) A sponsor may be a participant in a sponsored captive insurance company.

(C) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.

(D) A participant shall insure only its own risks through a sponsored captive insurance company, unless otherwise approved by the director.

HISTORY: 2000 Act No. 331, Section 1; 2001 Act No. 58, Section 14, eff May 29, 2001.

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.