South Carolina Code 38-13-180. Insurance reserve fund defined
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Terms Used In South Carolina Code 38-13-180
- insurance: includes annuities. See South Carolina Code 38-1-20
- Property insurance: means each insurance against direct or indirect loss of or damage to a property resulting from fire, smoke, weather disturbances, climatic conditions, earthquake, volcanic eruption, rising waters, insects, blight, animals, war damage, riot, civil commotion, destruction by order of civil authority to prevent spread of conflagration or for other reason, water damage, vandalism, glass breakage, explosion of a water system, collision, theft of automobiles, and personal effects in them (but no other forms of theft insurance), loss of or damage to domestic or wild animals, and any other perils to property which in the discretion of the director or his designee form proper subjects of property insurance, if not specified in items (1), (7), (11), (35), (40), (54), or (59) of this section. See South Carolina Code 38-1-20
For purposes of §§ 38-13-190 and 38-13-200, "insurance reserve fund" or "funds" means the insurance reserve funds administered by the State Fiscal Accountability Authority to provide liability and property insurance, as authorized under § 1-11-140, Chapter 7 of Title 10, and the regulations prescribed by the State Fiscal Accountability Authority.