South Carolina Statutes
§ 38-90-105 — Loans.
Upon approval by the director, only a pure captive insurance company, a special purpose captive insurance company, or a sponsored captive insurance company may make loans to its parent company or affiliates evidenced by a note in a form acceptable to and approved by the director. Loans of minimum capital or surplus funds or a combination thereof required by Section 38-90-40 are prohibited.
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South Carolina § 38-90-105 (Loans.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2018 Act No. 251 (H.4675), SECTION 1, eff May 18, 2018.
Nearby Sections
15
§ 38-90-10
Definitions.§ 38-90-100
Applicability of investment requirements.§ 38-90-105
Loans.§ 38-90-110
Reinsurance; effect on reserves.§ 38-90-120
Requirement to join ratings organization.§ 38-90-145
Reserved.§ 38-90-150
Rules, regulations, and orders.§ 38-90-165
Declaration of inactivity.§ 38-90-190
Reserved.