This chapter may be cited as the "Investments of Insurers Act".
HISTORY: 2002 Act No. 319, Section 2, eff June 3, 2002.
Editor's Note
2002 Act No. 319, Section 1, provides as follows:
"The legislative intent of this chapter is to protect the interests of the insured in this State by promoting insurer solvency and financial strength, to be accomplished through the application of investment standards that facilitate a reasonable balance of the following objectives:
"(1) preserving principal;
"(2) assuring reasonable diversification as to type of investment, issuer, and credit quality; and
"(3) allowing insurers to allocate investments in a manner consistent with principles of prudent investment management to achieve a return adequate to meeting obligations to insureds and financial strength sufficient to cover reasonably foreseeable contingencies."
Structure South Carolina Code of Laws
Chapter 12 - South Carolina Investments Laws
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 38-12-60. 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 38-12-260. 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 38-12-410. Scope of article.
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.