South Carolina Code of Laws
Chapter 12 - South Carolina Investments Laws
Section 38-12-20. Scope of chapter.

This chapter applies to all domestic insurers. Foreign insurers and United States branches of alien insurers transacting an insurance business in this State shall maintain investments of the same general type and character as specified for domestic insurers, except that investments of substantially the same quality as those specified in this chapter, authorized by the law of the insurer's state of domicile, or state of entry if an alien insurer, may be recognized as eligible investments for purposes of this chapter by the director or his designee in the sound exercise of his discretion. This chapter does not apply to separate accounts of an insurer except to the extent provided by Chapter 67 of this title.
HISTORY: 2002 Act No. 319, Section 2, eff June 3, 2002.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 38 - Insurance

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 38-12-50. 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.