South Carolina § 38-9-430 Exemptions from application of article.

South Carolina Statutes

§ 38-9-430 — Exemptions from application of article.

South Carolina § 38-9-430

Title 38INSURANCE

Ch. 9CAPITAL, SURPLUS, RESERVES, AND OTHER FINANCIAL MATTERS

This text of South Carolina § 38-9-430 (Exemptions from application of article.) 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. § 38-9-430 (2026).

Text

The director may exempt from the application of this article:

(1)a domestic property and casualty insurer that:

(a)writes direct business only in this State;

(b)writes direct annual written premiums of two million dollars or less; and (c) assumes no reinsurance in excess of five percent of its direct written premium; and (2) a domestic health organization that:

(a)writes direct business only in this State;

(b)assumes no reinsurance in excess of five percent of direct premium written; and (c) writes direct annual premiums of one million dollars or less.

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The director may exempt from the application of this article: (1) a domestic property and casualty insurer that: (a) writes direct business only in this State; (b) writes direct annual written premiums of two million dollars or less; and (c) assumes no reinsurance in excess of five percent of its direct written premium; and (2) a domestic health organization that: (a) writes direct business only in this State; (b) assumes no reinsurance in excess of five percent of direct premium written; and (c) writes direct annual premiums of one million dollars or less.

Legislative History

HISTORY: 1996 Act No. 254, SECTION 2; 2014 Act No. 164 (S.908), SECTION 12, eff January 1, 2015. Effect of Amendment 2014 Act No. 164, SECTION 12, rewrote the section.