South Carolina Code 38-14-190. Purchase of SPRV securities as transacting insurance business
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 38-14-190
- insurance: includes annuities. See South Carolina Code 38-1-20
The securities issued by the SPRV pursuant to a SPRV insurance securitization must not be deemed to be insurance or reinsurance contracts. An investor in such securities issued pursuant to a SPRV insurance securitization or any holder of such securities must not, by sole means of this investment or holding, be deemed to be transacting an insurance business in this State. The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives, and advisors involved in a SPRV insurance securitization must not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory, or consulting business by virtue of their activities in connection therewith.