South Carolina Code of Laws
Title 38 - Insurance
Chapter 14 - Special Purpose Reinsurance Vehicle Model Act

Section 38-14-10. Purpose of chapter. - This chapter provides for the creation of Special Purpose Reinsurance...

Section 38-14-20. Other sections applicable. - (A) The following sections of Title 38, Code of Laws...

Section 38-14-30. Definitions. - For purposes of this chapter, the following terms have the...

Section 38-14-40. Application process and requirements; limited certificate of authority; approval in changes in plan of operation. - (A) Within thirty days after receipt by the director, or...

Section 38-14-50. Purpose of SPRVs. - SPRVs authorized under this chapter are created for the limited...

Section 38-14-60. Contracts with ceding insurers; requirements and guidelines for conducting business; trust agreements. - (A) SPRVs authorized under this chapter may at any given...

Section 38-14-70. Powers; bylaws. - (A) A SPRV authorized under this chapter must have the...

Section 38-14-80. Relationship to ceding insurer. - Notwithstanding the provisions of Chapter 21 of this title, the...

Section 38-14-90. Capital requirements. - A SPRV must have minimum initial capital of not less...

Section 38-14-100. Declaration and payment of dividends. - The SPRV may not declare or pay dividends in any...

Section 38-14-110. Records and filing requirements. - (A) The records of the SPRV must be maintained in...

Section 38-14-120. Election and removal of officers; loans. - The directors of a SPRV must elect officers that they...

Section 38-14-130. Reimbursement of formation and operation expenses and costs. - The director, or his designee, may charge fees to reimburse...

Section 38-14-140. Dissolution procedure. - A SPRV operating under this chapter may be dissolved at...

Section 38-14-150. Rehabilitation and liquidation. - (A) The provisions of Chapter 27 of this title apply...

Section 38-14-160. Exemption from guaranty fund contributions or guaranty associations. - (A) The SPRV or the activities, assets, and obligations relating...

Section 38-14-170. Trust asset requirements; swap agreements. - (A) Assets of the SPRV held in trust to secure...

Section 38-14-180. Reinsurance credit. - A SPRV contract meeting the requirements under this chapter must...

Section 38-14-190. Purchase of SPRV securities as transacting insurance business. - The securities issued by the SPRV pursuant to a SPRV...

Section 38-14-200. Promulgation of regulations. - The director, or his designee, may promulgate regulations necessary to...