{"data":{"id":"us-sc/s.c.-code-ann.-38-41-70","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-41-70","heading":"Loss reserve; surplus account.","body":"A plan shall establish loss reserves for all incurred losses, both reported and unreported, and for unearned premiums, in the same manner required for health insurers under Sections 38-9-170 and 38-9-190.\nA plan also shall establish a surplus account equal to the greater of:\n(a) three times the average paid monthly premium during the plan's most recent fund year;\n(b) for plans which do not yet have one fund year's experience, three times estimated monthly premium; or\n(c) one hundred thousand dollars.","path":["Title 38 - INSURANCE","CHAPTER 41 Multiple Employer Self-Insured Health Plan"],"source_url":"https://www.scstatehouse.gov/code/t38c041.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:13:04Z","sha256":"e21cc33583a2102881605e6f3bba8d684fd02f817e85911f4f34f5100ee1eaea","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-41-60","next":"us-sc/s.c.-code-ann.-38-41-80"},"notice":"GroundRules: Original legal text. Not legal advice."}