South Carolina Code 38-38-410. Authorized investments
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Terms Used In South Carolina Code 38-38-410
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Society: means fraternal benefit society, unless otherwise indicated. See South Carolina Code 38-38-40
A society shall invest its funds only in investments authorized by the laws of this State for the investment of assets of life insurers and subject to the limitations on those investments. A foreign or alien society permitted or seeking to do business in this State which invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated shall comply with the requirements of this section for the investment of funds.