# S.C. Code Ann. § 38-41-70: SECTION 38-41-70. Loss reserve; surplus account

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-70

## Section

- **Citation:** S.C. Code Ann. § 38-41-70
- **Heading:** SECTION 38-41-70. Loss reserve; surplus account
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 38 / Chapter 41 / Section 38-41-70

## Text

A plan shall establish loss reserves for all incurred losses, both reported and unreported, and for unearned premiums, in the same manner required for health insurers under Sections 38-9-170 and 38-9-190. A plan also shall establish a surplus account equal to the greater of: (a) three times the average paid monthly premium during the plan's most recent fund year; (b) for plans which do not yet have one fund year's experience, three times estimated monthly premium; or (c) one hundred thousand dollars.

## Nearby sections

- [S.C. Code Ann. § 38-41-10 SECTION 38-41-10. Multiple employer self-insured health plan defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-10.md)
- [S.C. Code Ann. § 38-41-20 SECTION 38-41-20. License required; transaction of business; exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-20.md)
- [S.C. Code Ann. § 38-41-25 SECTION 38-41-25. Agent, broker or administrator must give notice of transacting business.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-25.md)
- [S.C. Code Ann. § 38-41-30 SECTION 38-41-30. License application; fee.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-30.md)
- [S.C. Code Ann. § 38-41-35 SECTION 38-41-35. Hold harmless agreements.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-35.md)
- [S.C. Code Ann. § 38-41-40 SECTION 38-41-40. Filing of bylaws, schedules of benefits, and agreements.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-40.md)
- [S.C. Code Ann. § 38-41-45 SECTION 38-41-45. Definitions; denial of continued access to coverage.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-45.md)
- [S.C. Code Ann. § 38-41-50 SECTION 38-41-50. Excess stop-loss coverage required.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-50.md)
- [S.C. Code Ann. § 38-41-60 SECTION 38-41-60. Funds must be held in trust.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-60.md)
- [S.C. Code Ann. § 38-41-70 SECTION 38-41-70. Loss reserve; surplus account.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-70.md)
- [S.C. Code Ann. § 38-41-80 SECTION 38-41-80. Records; inspection and examination.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-80.md)
- [S.C. Code Ann. § 38-41-90 SECTION 38-41-90. Dissolution of plan.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-90.md)
- [S.C. Code Ann. § 38-41-100 SECTION 38-41-100. Regulations.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-100.md)
- [S.C. Code Ann. § 38-41-110 SECTION 38-41-110. Revocation or suspension of license; commencement of delinquency proceedings.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-110.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T38_C41_S38-41-70. Check the current official text before relying on it. Not legal advice.