South Carolina Statutes
§ 38-75-910 — Limitation of risk on title insurance.
No insurer transacting title insurance business in this State may expose itself to any one risk in an amount exceeding fifty percent of the aggregate amount of its total capital and surplus and its reserves other than its loss or claim reserves. As used in this section, the words "any one risk" mean the risk or hazard attaching to or arising in connection with any one piece or parcel of property, whether or not the policy insures other property. Any risk or portion of any risk which has been reinsured as authorized in this title must be deducted in determining the limitation of risk prescribed in this section.
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South Carolina § 38-75-910 (Limitation of risk on title insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-9-185 [1980 Act No. 402] recodified as SECTION 38-75-910 by 1987 Act No. 155, SECTION 1.
Nearby Sections
15
§ 38-75-1000
Restrictions on amount of commission.§ 38-75-1110
Purpose.§ 38-75-1120
Report on coastal insurance issues.§ 38-75-1130
Scope of article.