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2023 South Carolina Code of Laws
Title 38 - Insurance
Chapter 12 - South Carolina Investments Laws
Editor's Note
2002 Act No. 319, Section 4, provides as follows:
"This act takes effect upon approval by the Governor and applies to investment transactions as follows:
"(1) An investment held as an admitted asset by an insurer on the effective date of this chapter which qualified as an admitted asset immediately before the effective date of this chapter remains qualified as an admitted asset pursuant to this chapter.
"(2) Each specific transaction constituting an investment practice of the type described in this chapter that lawfully was entered into by an insurer and was in effect on the effective date of this chapter continues to be permitted by this chapter until its expiration or termination under its terms."
ARTICLE 1 General Provisions
- Section 38-12-10. Short title.
- Section 38-12-20. Scope of chapter.
- Section 38-12-30. Definitions.
- Section 38-12-40. Insurer acquisitions, holdings or investments.
- Section 38-12-50. Board of director responsibilities; adoption of written investment plan; review of portfolio; records of authorizations.
- Section 38-12-60. Prohibited actions of insurer.
- Section 38-12-70. Direct or indirect financial interest prohibited; loans to officers or directors.
- Section 38-12-80. Asset valuation.
- Section 38-12-90. Regulations.
- Section 38-12-210. Scope of article.
- Section 38-12-220. Restrictions on investments.
- Section 38-12-230. Rated credit instruments; federally backed mortgages.
- Section 38-12-240. Investment pools; qualification requirements; pooling agreements.
- Section 38-12-250. Equity interests in domestic business entities; percentage of assets limitation; short sales.
- Section 38-12-260. Tangible personal property; valuation; limitations.
- Section 38-12-270. Mortgage loans; real estate.
- Section 38-12-280. Securities lending, repurchase, reverse repurchase, and dollar roll transactions.
- Section 38-12-290. Foreign investments.
- Section 38-12-300. Derivative transactions.
- Section 38-12-310. Life insurer loan to policyholder.
- Section 38-12-320. Exceptions to investment restrictions; assets from dividends and distributions; mergers and consolidations; protection of previous investments; time for determining qualification.
- Section 38-12-410. Scope of article.
- Section 38-12-420. Asset and reserve requirements; notice of deficiency; notice to eliminate noncompliance.
- Section 38-12-430. Asset limitations for insurer holdings; Canadian investments.
- Section 38-12-440. Insurer acquisition of rated credit instruments; limitations.
- Section 38-12-450. Insurer acquisition of investments in investment pools; limitations.
- Section 38-12-460. Equity interests in domestic business entities; limitations.
- Section 38-12-470. Tangible personal property; valuation; limitations.
- Section 38-12-480. Mortgage loans; real estate.
- Section 38-12-490. Securities lending, repurchase, reverse repurchase, and dollar roll transactions.
- Section 38-12-500. Foreign investments.
- Section 38-12-510. Derivative transactions.
- Section 38-12-520. Exceptions to investment restrictions; assets from dividends and distributions; mergers and consolidations; protection of previous investments; time for determining qualification.
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