South Carolina § 38-90-110 - Reinsurance; effect on reserves.
Full text of South Carolina South Carolina Code of Laws § 38-90-110 — Reinsurance; effect on reserves., with citation guidance and answers to common questions.
§ 38-90-110. Reinsurance; effect on reserves.
(A) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer.
(B)(1) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with the provisions of Sections 38-9-200, 38-9-210, and 38-9-220.
(2) An industrial insured captive insurance company or a captive insurance company formed as a risk retention group may not take credit for reserves on risks or portions of risks ceded to a reinsurer if the reinsurer is not in compliance with Sections 38-9-200, 38-9-210, and 38-9-220.
(3) All other captive insurance companies may not take credit for reserves on risks or portions of risks ceded to a reinsurer if the reinsurer is not in compliance with Sections 38-9-200, 38-9-210, and 38-9-220, unless specific approval has been granted for this credit or the reinsurer by approval of the director, or the captive insurance company is participating in a risk pool for the purpose of risk sharing, as approved by the director.
HISTORY: 2000 Act No. 331, SECTION 1; 2007 Act No. 86, SECTION 1, eff June 14, 2007; 2014 Act No. 282 (S.909), SECTION 15, eff June 10, 2014; 2018 Act No. 251 (H.4675), SECTION 1, eff May 18, 2018.
Effect of Amendment
2014 Act No. 282, SECTION 15, in subsection (B)(2), inserted "or a captive insurance company formed as a risk retention group".
2018 Act No. 251, SECTION 1, in (B)(3), substituted "approval of the director, or the captive insurance company is participating in a risk pool for the purpose of risk sharing, as approved by the director" for "order of the director" at the end.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-90-110
What does South Carolina Code of Laws § 38-90-110 cover?
Section 38-90-110 ("Reinsurance; effect on reserves.") 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 § 38-90-110?
A common citation format is "South Carolina Code of Laws § 38-90-110" (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 § 38-90-110 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.