South Carolina Statutes
§ 38-55-30 — Limitation of risk; section not applicable to captive insurers.
South Carolina § 38-55-30
This text of South Carolina § 38-55-30 (Limitation of risk; section not applicable to captive insurers.) 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. § 38-55-30 (2026).
Text
Except as otherwise provided in this title, no insurer doing business in this State may expose itself to a loss on one risk in an amount exceeding ten percent of its surplus to policyholders. A risk or portion of it which has been reinsured must be deducted in determining the limitation of risk prescribed in this section. This section does not apply to captive insurers.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-55-30 [1947 (45) 322; 1952 Code SECTION 37-1204; 1962 Code SECTION 37-1203; 1964 (53) 2293] recodified as SECTION 38-57-30 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-180 [1947 (45) 322; 1952 Code SECTION 37-153; 1962 Code SECTION 37-153] recodified as SECTION 38-55-30 by 1987 Act No. 155, SECTION 1; 1991 Act No. 13, SECTION 27; 2001 Act No. 82, SECTION 18, eff July 20, 2001.
Nearby Sections
15
§ 38-55-100
Tontine plans prior to May 12, 1947.§ 38-55-110
Reserve requirements for tontine policies.§ 38-55-170
Presenting false claims for payment.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-55-30, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/55/38-55-30.