South Carolina Statutes
§ 38-90-225 — Participants in a sponsored captive insurance company.
South Carolina § 38-90-225
This text of South Carolina § 38-90-225 (Participants in a sponsored captive insurance company.) 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. § 38-90-225 (2026).
Text
(A)The following may be participants in a sponsored captive insurance company formed or licensed pursuant to this chapter:
(1)an association, corporation, limited liability company, partnership, trust, or other business entity; and (2) a sponsor.
(B)A participant does not need to be a shareholder of the sponsored captive insurance company or an affiliate of the company.
(C)A participant shall insure only its own risks through a sponsored captive insurance company unless otherwise approved by the director.
(D)A risk retention group may not be a sponsor or participant in a sponsored captive insurance company.
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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.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-90-225, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/90/38-90-225.