§ 38-9-430

S.C. Code Ann. § 38-9-430

Exempt domestic property and casualty insurers

1996 Act No. 254, Section 2.

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The director may exempt from the application of this article any domestic property and casualty insurer which:

(1) except for the reinsurance allowed by item (3) of this section, underwrites direct business only in this State;
(2) underwrites direct annual written premiums of $2,000,000.00 or less; and
(3) assumes no reinsurance in excess of five percent of its direct written premium.

HISTORY: 1996 Act No. 254, Section 2.