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South Carolina Code of Laws

Article 3

Special Purpose Financial Captives

38-90-410Purpose 38-90-420Definitions 38-90-430Relation to other Title 38 provisions 38-90-440License to transact business in State; contents of application; fees; foreign corporations 38-90-450Organization requirements; privileges and restrictions 38-90-460Capitalization 38-90-470Authorized contracts 38-90-480Protected cells 38-90-485Effect of creation of protected cell; naming; management of assets 38-90-490Issuance of securities 38-90-500Swap agreements and other forms of asset management agreements 38-90-510Authority to enter into contracts; contents 38-90-515Securities issued by SPFC as insurance contract; underwriters or selling agents as insurance producers 38-90-520Requirements and guidelines for asset management 38-90-530Trust agreements for assets held in trust or pledged to secure obligations 38-90-540Payment of dividends 38-90-550Material changes of SPFC'S plan; filing of audit and statement of operations; examination of records 38-90-560Examinations by director; confidentiality of examination reports 38-90-570Expiration of authority granted by director on cessation of business; suspension or revocation of license; penalties; administrative hearing 38-90-580Tax rates and payment schedules 38-90-590Conditions for SPFC contract being granted credit for reinsurance treatment or otherwise qualifying as asset or reduction from liability for benefit of counterparty 38-90-600Conservation, rehabilitation, or liquidation of SPFC 38-90-610Disclosure of information by director 38-90-620Standards and criteria applicable in contested case brought by third party and certain actions by director 38-90-630Promulgation of regulations