South Carolina § 10-7-130 - Insurance reserve funds.
Full text of South Carolina South Carolina Code of Laws § 10-7-130 — Insurance reserve funds., with citation guidance and answers to common questions.
§ 10-7-130. Insurance reserve funds.
All funds paid over to the State Fiscal Accountability Authority as premiums on policies of insurance and all money received from interest on loans and deposits and from any other source connected with the insurance of public property, provided for herein, shall be held by the authority as insurance reserve funds for the purpose of paying all losses for which it is liable and the expenses necessary to the proper conduct of such insurance of public property by the authority and shall be invested by it as are other funds in its hands.
HISTORY: 1962 Code SECTION 1-442; 1952 Code SECTION 1-442; 1942 Code SECTION 2187; 1936 (39) 1668; 1950 (46) 3605; 1965 (54) 590; 1976 Act No. 583.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 10-7-130
What does South Carolina Code of Laws § 10-7-130 cover?
Section 10-7-130 ("Insurance reserve funds.") 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 § 10-7-130?
A common citation format is "South Carolina Code of Laws § 10-7-130" (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 § 10-7-130 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.