S.C. Code § 38-9-430

Current through 2024 Act No. 225.

Section 38-9-430 - Exemptions from application of article

The director may exempt from the application of this article:

(1) a domestic property and casualty insurer that:

(a) writes direct business only in this State;

(b) writes direct annual written premiums of two million dollars or less; and

(c) assumes no reinsurance in excess of five percent of its direct written premium; and

(2) a domestic health organization that:

(a) writes direct business only in this State;

(b) assumes no reinsurance in excess of five percent of direct premium written; and

(c) writes direct annual premiums of one million dollars or less.

S.C. Code § 38-9-430

Amended by 2014 S.C. Acts, Act No. 164 (SB 908), s 12, eff. 1/1/2015.

1996 Act No. 254, Section 2.