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 § 38-10-70

Title 38INSURANCE

Ch. 10PROTECTED CELL INSURANCE COMPANIES

This text of South Carolina § 38-10-70 (Protected cell insurance securitization as insurance contract; investor, underwriters and officers as conducting insurance business.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 38-10-70 (2026).

Text

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.