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2017 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 9 - CAPITAL, SURPLUS, RESERVES, AND OTHER FINANCIAL MATTERS
Section 38-9-430. Exemptions from application of article.
Universal Citation: SC Code § 38-9-430 (2017)
The director may exempt from the application of this article:
(1) a domestic property and casualty insurer that:
(a) writes direct business only in this State;
(b) writes direct annual written premiums of two million dollars or less; and
(c) assumes no reinsurance in excess of five percent of its direct written premium; and
(2) a domestic health organization that:
(a) writes direct business only in this State;
(b) assumes no reinsurance in excess of five percent of direct premium written; and
(c) writes direct annual premiums of one million dollars or less.
HISTORY: 1996 Act No. 254, Section 2; 2014 Act No. 164 (S.908), Section 12, eff January 1, 2015.
Effect of Amendment
2014 Act No. 164, Section 12, rewrote the section.
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