South Carolina § 38-14-180 - Reinsurance credit.
Full text of South Carolina South Carolina Code of Laws § 38-14-180 — Reinsurance credit., with citation guidance and answers to common questions.
§ 38-14-180. Reinsurance credit.
A SPRV contract meeting the requirements under this chapter must be granted credit for reinsurance treatment or must otherwise qualify as an asset or a reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer under Section 38-9-210 for the benefit of the ceding insurer, provided and only to the extent that:
(A) the fair value of the assets held in trust for the benefit of the ceding insurer equal or exceed the obligations due and payable to the ceding insurer by the SPRV under the SPRV contract;
(B) the assets are held in trust in accordance with the requirements set forth in this chapter;
(C) the assets are administered in the manner and pursuant to arrangements as set forth in this chapter; and
(D) the assets are held or invested in one or more of the forms allowed in Section 38-14-170.
HISTORY: 2002 Act No. 259, SECTION 1, eff May 20, 2002.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-14-180
What does South Carolina Code of Laws § 38-14-180 cover?
Section 38-14-180 ("Reinsurance credit.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 38-14-180?
A common citation format is "South Carolina Code of Laws § 38-14-180" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-14-180 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.