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2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 10 - PROTECTED CELL INSURANCE COMPANIES
SECTION 38-10-10. Purpose.


SC Code § 38-10-10 (2013) What's This?

This chapter is adopted to provide a basis for the creation of protected cells by a domestic insurer or captive insurer as defined in Chapter 90 as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization. Investors in fully funded insurance securitization transactions provide funds that are available to pay the insurer's insurance obligations or to repay the investors, or both. The creation of protected cells is intended to be a means to achieve more efficiencies in conducting insurance securitizations.

HISTORY: 2000 Act No. 238, Section 2; 2001 Act No. 58, Section 15, eff May 29, 2001.

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