S.C. Code Ann. tit. 38, ch. 21 – Insurance Holding Company Regulatory Act | Midpage

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South Carolina Code of Laws

Chapter 21

S.C. Code Ann. tit. 38, ch. 21

Insurance Holding Company Regulatory Act

38-21-10Definitions 38-21-20Authority of insurers to organize or acquire subsidiaries 38-21-30Authority of insurers to invest in securities of subsidiaries 38-21-40Investments in securities of subsidiaries are not subject to other restrictions 38-21-50Determining compliance with provision authorizing investments in securities of subsidiaries; disposition of investments upon ceasing to control subsidiary 38-21-60Statement required by person seeking to acquire control of insurer; notice to director 38-21-70Contents of statement; amendment 38-21-80Use of certain documents required by other laws in furnishing information called for in statement 38-21-90Approval of Commissioner of acquisition of control; hearing 38-21-95Approval for acquisition of domestic insurer by controlling producer; conditions and requirements 38-21-100Certain transactions exempt from Sections 38-21-60 to 38-21-120 38-21-110Violations of Sections 38-21-60 to 38-21-120 38-21-120Jurisdiction of courts; service of process 38-21-125Acquisitions of insurers not covered by the Insurance Holding Company Regulatory Act 38-21-130Registration of members of insurance holding company systems 38-21-140Registration statement 38-21-150Summary outlining changes since previous registration statement required 38-21-160Information which need not be disclosed in registration statement 38-21-170Dividends and distributions must be reported 38-21-180Information from persons within insurance holding company 38-21-190Termination of registration 38-21-200Filing of consolidated or individual registration statements by affiliated insurers 38-21-210Filing of registration statement on behalf of affiliated insurer 38-21-220Disclaimer of affiliation 38-21-225Annual enterprise risk report; annual group capital calculation; liquidity stress test 38-21-230Failure to timely file registration statement 38-21-240Exemptions from registration statement provisions 38-21-250Standards for transactions within insurance holding company system 38-21-260Determining adequacy of insurer's surplus 38-21-270Notice and approval of extraordinary dividends or distributions required 38-21-280Examination; compulsory production of information 38-21-285Participation in supervisory colleges 38-21-290Confidential information 38-21-295Group-wide supervisor for internationally active insurance groups 38-21-300Regulations and orders of director 38-21-310Enjoining violations of chapter, regulations, or orders 38-21-320Voting of securities acquired in violation of chapter, regulations, or orders may be enjoined 38-21-330Seizure or sequestration of securities acquired in violation of chapter, regulations, or order 38-21-340Penalties; civil forfeiture; cease and desist orders; criminal prosecutions; misdemeanor; disapproval of dividends or distributions; suspensions 38-21-350Director may take possession of property and conduct business of insurer 38-21-360Authority of receiver to recover certain distributions and payments 38-21-370Judicial review of action, order, or decision of director 38-21-380Inconsistent laws superseded 38-21-390Severability