With the exception of investments made in accordance with Section 38-33-50 (A)(1) and (2) and (B), the funds of a health maintenance organization must be invested only in securities or other investments permitted by the laws of this State for the investment of assets which qualify to cover policyholder obligations of life insurance companies or such other securities or investments as the director or his designee may permit.
S.C. Code Ann. § 38-33-120
Investment of funds
Known as the Health Maintenance Organization Act
The act spans §§ 38-33-10 to 38-33-90 (32 sections).
Enacted as 1976 Code SECTION 38-25-120 by 1987 Act No. 83, SECTION 1; recodified as SECTION 38-33-120 by 1987 Act No. 155, SECTION 24; 1993 Act No. 181, SECTION 633.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.