There is a newer version of the South Carolina Code of Laws
2015 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 90 - CAPTIVE INSURANCE COMPANIES
ARTICLE 1 Captive Insurance Companies- Section 38-90-10. Definitions.
- Section 38-90-20. Licensing; required information and documentation; fee; renewal.
- Section 38-90-25. Captive reinsurance companies.
- Section 38-90-30. Adoption of name.
- Section 38-90-35. Discovery of confidential information in civil actions.
- Section 38-90-40. Capitalization requirements.
- Section 38-90-45. Minimum capitalization or reserves.
- Section 38-90-50. Free surplus requirements; restriction on payment of dividends.
- Section 38-90-55. Incorporation requirements.
- Section 38-90-60. Incorporation options and requirements.
- Section 38-90-70. Reports.
- Section 38-90-75. Discounting of loss and loss adjustment expense reserves.
- Section 38-90-80. Inspections and examinations; confidentiality of reports; limitations applicable to branch captive insurance companies; application of general provisions.
- Section 38-90-90. Suspension or revocation of license.
- Section 38-90-100. Applicability of investment requirements; loans.
- Section 38-90-110. Reinsurance; effect on reserves.
- Section 38-90-120. Requirement to join ratings organization.
- Section 38-90-130. Participation in plan, pool, association, or guaranty or insolvency fund.
- Section 38-90-140. Tax payment; rates; "common ownership and control" defined.
- Section 38-90-145. Annual captive reinsurance tax.
- Section 38-90-150. Rules, regulations, and orders.
- Section 38-90-160. Application of provisions of title; director discretion; exemption of special purpose captive insurance companies.
- Section 38-90-165. Declaration of inactivity.
- Section 38-90-170. Repealed by 2004 Act No. 291, Section 31, eff July 29, 2004.
- Section 38-90-175. Captive Insurance Regulatory and Supervision Fund created; disbursements.
- Section 38-90-180. Applicability of provisions relating to insurance reorganizations, receiverships, and injunctions; sponsored captive insurance company assets and capital provisions.
- Section 38-90-185. Management of assets of captive reinsurance company.
- Section 38-90-190. Regulations establishing standards to ensure risk management control by parent company; temporary pending promulgation of regulations.
- Section 38-90-200. Conversion of certain stock, mutual corporations, or limited liability companies into reciprocal insurers; plan for conversion.
- Section 38-90-210. Formation of sponsored captive insurance company; establishing protected cells.
- Section 38-90-215. Protected cells.
- Section 38-90-220. Requirements applicable to sponsors.
- Section 38-90-230. Protected cell assets; availability to creditors.
- Section 38-90-235. Repealed by 2014 Act No. 282, Section 24, eff June 10, 2014.
- Section 38-90-240. Eligibility of licensed captive insurance companies for certificate of authority to act as insurer.
- Section 38-90-250. Certificate of authority.
- Section 38-90-410. Purpose.
- Section 38-90-420. Definitions.
- Section 38-90-430. Relation to other Title 38 provisions.
- Section 38-90-440. License to transact business in State; contents of application; fees; foreign corporations.
- Section 38-90-450. Organization requirements; privileges and restrictions.
- Section 38-90-460. Capitalization.
- Section 38-90-470. Authorized contracts.
- Section 38-90-480. Protected cells.
- Section 38-90-485. Effect of creation of protected cell; naming; management of assets.
- Section 38-90-490. Issuance of securities.
- Section 38-90-500. Swap agreements and other forms of asset management agreements.
- Section 38-90-510. Authority to enter into contracts; contents.
- Section 38-90-515. Securities issued by SPFC as insurance contract; underwriters or selling agents as insurance producers.
- Section 38-90-520. Requirements and guidelines for asset management.
- Section 38-90-530. Trust agreements for assets held in trust or pledged to secure obligations.
- Section 38-90-540. Payment of dividends.
- Section 38-90-550. Material changes of SPFC'S plan; filing of audit and statement of operations; examination of records.
- Section 38-90-560. Examinations by director; confidentiality of examination reports.
- Section 38-90-570. Expiration of authority granted by director on cessation of business; suspension or revocation of license; penalties; administrative hearing.
- Section 38-90-580. Tax rates and payment schedules.
- Section 38-90-590. Conditions for SPFC contract being granted credit for reinsurance treatment or otherwise qualifying as asset or reduction from liability for benefit of counterparty.
- Section 38-90-600. Conservation, rehabilitation, or liquidation of SPFC.
- Section 38-90-610. Disclosure of information by director.
- Section 38-90-620. Standards and criteria applicable in contested case brought by third party and certain actions by director.
- Section 38-90-630. Promulgation of regulations.
- Section 38-90-810. Citation of article.
- Section 38-90-820. Definitions.
- Section 38-90-830. Exemptions; powers and duties.
- Section 38-90-840. Capitalization requirements.
- Section 38-90-850. Surplus requirements.
- Section 38-90-860. Discretion of director as to form of company.
- Section 38-90-870. Exemption from provisions deemed inappropriate.
- Section 38-90-875. Confidentiality of reports.
- Section 38-90-880. Notice included with application form for insurance.
- Section 38-90-890. Requirements for issuance of license.
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.