For purposes of this chapter, the value or amount of an investment acquired or held, or an investment practice engaged in pursuant to this chapter, unless otherwise specified in this title, must be the value at which assets of an insurer are required to be reported for statutory accounting purposes as determined in accordance with procedures prescribed in published accounting and valuation standards of the NAIC.
S.C. Code Ann. § 38-12-80
Asset valuation
Known as the Investments of Insurers Act
The act spans §§ 38–38 (33 sections).
2002 Act No. 319, SECTION 2, eff June 3, 2002.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.