# S.C. Code Ann. § 38-21-20: SECTION 38-21-20. Authority of insurers to organize or acquire subsidiaries

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-20

## Section

- **Citation:** S.C. Code Ann. § 38-21-20
- **Heading:** SECTION 38-21-20. Authority of insurers to organize or acquire subsidiaries
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 38 / Chapter 21 / Section 38-21-20

## Text

A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged in the following kinds of business: (1) Any kind of insurance business authorized by the jurisdiction in which it is incorporated; (2) Acting as an insurance broker or as an insurance agent for its parent or for any of its parent's insurer subsidiaries; (3) Investing, reinvesting, or trading in securities for its own account, that of its parent, any subsidiary of its parent, or any affiliate or subsidiary; (4) Management of an investment company subject to or registered pursuant to the Investment Company Act of 1940, as amended, including related sales and services; (5) Acting as a broker-dealer subject to or registered pursuant to the Securities Exchange Act of 1934, as amended; (6) Rendering investment advice to governments, government agencies, corporations, or other organizations or groups; (7) Rendering other services related to the operations of an insurance business, including, but not limited to, actuarial, loss prevention, safety engineering, data processing, accounting, claims, appraisal, and collection services; (8) Ownership and management of assets which the parent corporation could itself own or manage; (9) Acting as administrative agent for a governmental instrumentality which is performing an insurance function; (10) Financing of insurance premiums, agents, and other forms of consumer financing; (11) Any other business activity determined by the director or his designee to be reasonably ancillary to an insurance business; or (12) Owning a corporation or corporations engaged or organized to engage exclusively in one or more of the businesses specified in this section.

## Nearby sections

- [S.C. Code Ann. § 38-21-10 SECTION 38-21-10. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-10.md)
- [S.C. Code Ann. § 38-21-20 SECTION 38-21-20. Authority of insurers to organize or acquire subsidiaries.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-20.md)
- [S.C. Code Ann. § 38-21-30 SECTION 38-21-30. Authority of insurers to invest in securities of subsidiaries.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-30.md)
- [S.C. Code Ann. § 38-21-40 SECTION 38-21-40. Investments in securities of subsidiaries are not subject to other restrictions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-40.md)
- [S.C. Code Ann. § 38-21-50 SECTION 38-21-50. Determining compliance with provision authorizing investments in securities of subsidiaries; disposition of investments upon ceasing to control subsidiary.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-50.md)
- [S.C. Code Ann. § 38-21-60 SECTION 38-21-60. Statement required by person seeking to acquire control of insurer; notice to director.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-60.md)
- [S.C. Code Ann. § 38-21-70 SECTION 38-21-70. Contents of statement; amendment.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-70.md)
- [S.C. Code Ann. § 38-21-80 SECTION 38-21-80. Use of certain documents required by other laws in furnishing information called for in statement.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-80.md)
- [S.C. Code Ann. § 38-21-90 SECTION 38-21-90. Approval of Commissioner of acquisition of control; hearing.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-90.md)
- [S.C. Code Ann. § 38-21-95 SECTION 38-21-95. Approval for acquisition of domestic insurer by controlling producer; conditions and requirements.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-95.md)
- [S.C. Code Ann. § 38-21-100 SECTION 38-21-100. Certain transactions exempt from Sections 38-21-60 to 38-21-120.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-100.md)
- [S.C. Code Ann. § 38-21-110 SECTION 38-21-110. Violations of Sections 38-21-60 to 38-21-120.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-110.md)
- [S.C. Code Ann. § 38-21-120 SECTION 38-21-120. Jurisdiction of courts; service of process.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-120.md)
- [S.C. Code Ann. § 38-21-125 SECTION 38-21-125. Acquisitions of insurers not covered by the Insurance Holding Company Regulatory Act.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-125.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C21_S38-21-20. Check the current official text before relying on it. Not legal advice.