South Carolina Statutes
§ 38-14-80 — Relationship to ceding insurer.
Notwithstanding the provisions of Chapter 21 of this title, the SPRV, the SPRV organizer, or subsequent debt or equity investors in SPRV securities must not be deemed affiliates of the ceding insurer by virtue of the SPRV contract between the ceding insurer and the SPRV, the securities of the SPRV or related agreements necessary to implement the SPRV insurance securitization. The SPRV may not be controlled by, may not control, or may not be under common control with any ceding insurer that is a party to a SPRV contract.
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South Carolina § 38-14-80 (Relationship to ceding insurer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2002 Act No. 259, SECTION 1, eff May 20, 2002.
Nearby Sections
15
§ 38-14-10
Purpose of chapter.§ 38-14-100
Declaration and payment of dividends.§ 38-14-110
Records and filing requirements.§ 38-14-120
Election and removal of officers; loans.§ 38-14-140
Dissolution procedure.§ 38-14-150
Rehabilitation and liquidation.§ 38-14-170
Trust asset requirements; swap agreements.§ 38-14-180
Reinsurance credit.§ 38-14-20
Other sections applicable.§ 38-14-200
Promulgation of regulations.§ 38-14-30
Definitions.