South Carolina Statutes
§ 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.
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South Carolina § 38-12-20 (Scope of chapter.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2002 Act No. 319, SECTION 2, eff June 3, 2002.
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.