South Carolina § 38-10-70 Protected cell insurance securitization as insurance contract; investor, underwriters and officers as conducting insurance business.

South Carolina Statutes

§ 38-10-70 — Protected cell insurance securitization as insurance contract; investor, underwriters and officers as conducting insurance business.

South Carolina·Title 38 INSURANCE·Ch. 10 PROTECTED CELL INSURANCE COMPANIES

A protected cell company insurance securitization may not be deemed to be an insurance or reinsurance contract. An investor in a protected cell company insurance securitization, by sole means of this investment, may not be deemed to be conducting an insurance business in this State. The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives, and advisors involved in a protected cell company insurance securitization may not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory, or consulting business by virtue of their activities in connection with that business.

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A protected cell company insurance securitization may not be deemed to be an insurance or reinsurance contract. An investor in a protected cell company insurance securitization, by sole means of this investment, may not be deemed to be conducting an insurance business in this State. The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives, and advisors involved in a protected cell company insurance securitization may not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory, or consulting business by virtue of their activities in connection with that business.

South Carolina § 38-10-70 (Protected cell insurance securitization as insurance contract; investor, underwriters and officers as conducting insurance business.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.