S.C. Code Ann. § 58-27-1150: Entities which may invest in storm recovery bonds.

All of the following entities may legally invest any sinking funds, monies, or other funds in storm recovery bonds:

(1) the South Carolina Pooled Investment Fund established pursuant to Section 6-6-10;

(2) banks and bankers, savings and loan associations, credit unions, trust companies, savings banks and institutions, investment companies, insurance companies, insurance associations, and other persons carrying on a banking or insurance business;

(3) personal representatives, guardians, trustees, and other fiduciaries; and

(4) all other persons authorized to invest in bonds or other obligations of a similar nature.