S.C. Code Ann. § 38-11-60 – Consolidated statement by insurer owning eighty percent or more of stock of another insurer

An insurer owning not less than eighty percent of all classes of the outstanding stock of one or more other insurers transacting an insurance business may, for the purposes of complying with Section 38-11-40, so comply on the basis of a consolidated statement. However, every subsidiary must fully comply with the requirements of Section 38-11-40.