Authority may reinsure.

S.C. Code Ann. § 10-7-120
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
The State Fiscal Accountability Authority may reinsure, upon terms which it may deem most advantageous, in a reliable insurance company or companies, such portion of their insurance liability as is commensurate with the principle of safe underwriting. The authority shall from time to time prescribe such rules and regulations as may be necessary in placing and handling this reinsurance. 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: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t10c007.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements