South Carolina Statutes
§ 38-12-10 — Short title.
This chapter may be cited as the "Investments of Insurers Act".
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Legislative History
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."
Nearby Sections
15
§ 38-12-10
Short title.§ 38-12-20
Scope of chapter.§ 38-12-210
Scope of article.§ 38-12-220
Restrictions on investments.§ 38-12-250
Equity interests in domestic business entities; percentage of assets limitation; short sales.§ 38-12-270
Mortgage loans; real estate.§ 38-12-290
Foreign investments.§ 38-12-30
Definitions.§ 38-12-300
Derivative transactions.§ 38-12-310
Life insurer loan to policyholder.