{"data":{"id":"us-sc/s.c.-code-ann.-38-21-20","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-21-20","heading":"Authority of insurers to organize or acquire subsidiaries.","body":"A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged in the following kinds of business:\n(1) Any kind of insurance business authorized by the jurisdiction in which it is incorporated;\n(2) Acting as an insurance broker or as an insurance agent for its parent or for any of its parent's insurer subsidiaries;\n(3) Investing, reinvesting, or trading in securities for its own account, that of its parent, any subsidiary of its parent, or any affiliate or subsidiary;\n(4) Management of an investment company subject to or registered pursuant to the Investment Company Act of 1940, as amended, including related sales and services;\n(5) Acting as a broker-dealer subject to or registered pursuant to the Securities Exchange Act of 1934, as amended;\n(6) Rendering investment advice to governments, government agencies, corporations, or other organizations or groups;\n(7) Rendering other services related to the operations of an insurance business, including, but not limited to, actuarial, loss prevention, safety engineering, data processing, accounting, claims, appraisal, and collection services;\n(8) Ownership and management of assets which the parent corporation could itself own or manage;\n(9) Acting as administrative agent for a governmental instrumentality which is performing an insurance function;\n(10) Financing of insurance premiums, agents, and other forms of consumer financing;\n(11) Any other business activity determined by the director or his designee to be reasonably ancillary to an insurance business; or\n(12) Owning a corporation or corporations engaged or organized to engage exclusively in one or more of the businesses specified in this section.","path":["Title 38 - INSURANCE","CHAPTER 21 Insurance Holding Company Regulatory Act"],"source_url":"https://www.scstatehouse.gov/code/t38c021.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:12:09Z","sha256":"4cce2357b8c71d970922e5a9e383acc119a2d5cda78b3deafdc5574e7127d351","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-21-10","next":"us-sc/s.c.-code-ann.-38-21-30"},"notice":"GroundRules: Original legal text. Not legal advice."}