South Carolina § 38-13-1000 Purpose; construction; application.

South Carolina Statutes

§ 38-13-1000 — Purpose; construction; application.

South Carolina § 38-13-1000

Title 38INSURANCE

Ch. 13EXAMINATIONS, INVESTIGATIONS, RECORDS, AND REPORTS

This text of South Carolina § 38-13-1000 (Purpose; construction; application.) 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. § 38-13-1000 (2026).

Text

(A)The purpose of this article is to:

(1)provide the director a summary of an insurer's or insurance group's corporate governance structure, policies, and practices to permit the director to gain and maintain an understanding of the insurer's corporate governance framework;

(2)outline the requirements for completing a corporate governance annual disclosure and submitting the disclosure to the director; and (3) provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantag

Free access — add to your briefcase to read the full text and ask questions with AI

(A) The purpose of this article is to: (1) provide the director a summary of an insurer's or insurance group's corporate governance structure, policies, and practices to permit the director to gain and maintain an understanding of the insurer's corporate governance framework; (2) outline the requirements for completing a corporate governance annual disclosure and submitting the disclosure to the director; and (3) provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage. (B) Nothing in this article may be construed to prescribe or impose corporate governance standards and internal procedures beyond what is required under applicable state corporate law. Notwithstanding the foregoing, nothing in this article may be construed to limit the director's authority or the rights or obligations of third parties, pursuant to Section 38-13-10, et seq. (C) The requirements of this article apply to all insurers domiciled in this State and do not apply to risk retention groups or captive insurance companies.