Fabio
92 lines
7.5 KiB
Markdown
92 lines
7.5 KiB
Markdown
---
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type: "Bill"
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title: "Captive Insurance Companies"
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description: "AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-90-10, RELATING TO DEFINITIONS, SO AS TO INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES AND TO ADD TERMS; BY AMENDING SECTION 38-90-20, RELATING TO REQUIREMENTS OF CAPTIVE INSURANCE COMPANIES, SO AS TO AMEND MEETING REQUIREMENTS AND OUTLINE COMPONENTS OF A PLAN OF OPERATION; BY AMENDING SECTION 38-90-40, RELATING TO CAPITALIZATION REQUIREMENTS, SO AS TO GIVE DISCRETION TO THE DIRECTOR; BY AMENDING SECTION 38-90-60, RELATING TO INCORPORATION OPTIONS AND REQUIREMENTS, SO AS TO INCLUDE FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-70, RELATING TO REPORTS, SO AS TO CHANGE A DEADLINE AND INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-75, RELATING TO DISCOUNTING OF LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES, SO AS TO ALLOW A SPONSORED CAPTIVE INSURANCE COMPANY TO FILE ONE ACTUARIAL OPINION; BY AMENDING SECTION 38-90-80, RELATING TO INSPECTIONS AND EXAMINATIONS, SO AS TO MAKE THE EXAMINATION OF SOME CAPTIVE INSURANCE COMPANIES OPTIONAL AND TO INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-140, RELATING TO TAX PAYMENTS, SO AS TO AMEND REQUIRED TAX PAYMENTS FOR A SPONSORED CAPTIVE INSURANCE COMPANY; BY AMENDING SECTION 38-90-165, RELATING TO DECLARATION OF INACTIVITY, SO AS TO ALLOW FOR THE SUBMISSION OF A WRITTEN APPROVAL; BY AMENDING SECTION 38-90-175, RELATING TO THE CAPTIVE INSURANCE REGULATORY AND SUPERVISION FUND CREATED, SO AS TO INCREASE THE ALLOWED TRANSFER OF COLLECTED TAXES; AND BY AMENDING SECTION 38-90-215, RELATING TO PROTECTED CELLS, SO AS TO REMOVE LICENSING REQUIREMENTS. - RATIFIED TITLE"
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jurisdiction: "us/states/sc"
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legislature: "South Carolina General Assembly"
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session: "2025-2026"
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identifier: "S 210"
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citation: "South Carolina S 210 (2025-2026)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Turner"]
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version_count: 10
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action_count: 25
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vote_count: 2
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first_action: "2025-01-15"
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last_action: "2025-05-27"
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source: "openstates"
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source_identifier: "ocd-bill/f6c153ae-6ce1-49d4-97a4-c5060849c621"
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source_url: "https://www.scstatehouse.gov/billsearch.php?billnumbers=210&session=126&summary=B"
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source_hash: "c45e22ce1ab10ee398e46e6eee7720a92ee1c44ec2252120eb48eba410a7d1f4"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-sc"]
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---
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# South Carolina S 210 (2025-2026) — Captive Insurance Companies
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AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-90-10, RELATING TO DEFINITIONS, SO AS TO INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES AND TO ADD TERMS; BY AMENDING SECTION 38-90-20, RELATING TO REQUIREMENTS OF CAPTIVE INSURANCE COMPANIES, SO AS TO AMEND MEETING REQUIREMENTS AND OUTLINE COMPONENTS OF A PLAN OF OPERATION; BY AMENDING SECTION 38-90-40, RELATING TO CAPITALIZATION REQUIREMENTS, SO AS TO GIVE DISCRETION TO THE DIRECTOR; BY AMENDING SECTION 38-90-60, RELATING TO INCORPORATION OPTIONS AND REQUIREMENTS, SO AS TO INCLUDE FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-70, RELATING TO REPORTS, SO AS TO CHANGE A DEADLINE AND INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-75, RELATING TO DISCOUNTING OF LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES, SO AS TO ALLOW A SPONSORED CAPTIVE INSURANCE COMPANY TO FILE ONE ACTUARIAL OPINION; BY AMENDING SECTION 38-90-80, RELATING TO INSPECTIONS AND EXAMINATIONS, SO AS TO MAKE THE EXAMINATION OF SOME CAPTIVE INSURANCE COMPANIES OPTIONAL AND TO INCLUDE REFERENCES TO FOREIGN CAPTIVE INSURANCE COMPANIES; BY AMENDING SECTION 38-90-140, RELATING TO TAX PAYMENTS, SO AS TO AMEND REQUIRED TAX PAYMENTS FOR A SPONSORED CAPTIVE INSURANCE COMPANY; BY AMENDING SECTION 38-90-165, RELATING TO DECLARATION OF INACTIVITY, SO AS TO ALLOW FOR THE SUBMISSION OF A WRITTEN APPROVAL; BY AMENDING SECTION 38-90-175, RELATING TO THE CAPTIVE INSURANCE REGULATORY AND SUPERVISION FUND CREATED, SO AS TO INCREASE THE ALLOWED TRANSFER OF COLLECTED TAXES; AND BY AMENDING SECTION 38-90-215, RELATING TO PROTECTED CELLS, SO AS TO REMOVE LICENSING REQUIREMENTS. - RATIFIED TITLE
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Filed** (filed) — [source](https://www.scstatehouse.gov/sess126_2025-2026/bills/210.htm)
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2. **01/15/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250115.htm)
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3. **01/28/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250128.htm)
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4. **03/04/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250304.htm)
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5. **03/05/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250305.htm)
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6. **04/03/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250403.htm)
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7. **04/03/2025-A** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250403a.htm)
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8. **04/30/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250430.htm)
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9. **05/01/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250501.htm)
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10. **05/08/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/210_20250508.htm)
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## Votes
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- 2nd Reading — **43–0** (pass) · upper
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- Passage of Bill — **106–0** (pass) · lower
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## Sponsors
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- Turner — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-01-15** Introduced and read first time `introduction, reading-1`
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- **2025-01-15** Referred to Committee on Banking and Insurance `referral-committee`
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- **2025-01-28** Scrivener's error corrected
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- **2025-03-04** Committee report: Favorable with amendment Banking and Insurance `committee-passage-favorable`
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- **2025-03-05** Scrivener's error corrected
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- **2025-04-02** Committee Amendment Adopted `amendment-passage`
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- **2025-04-02** Read second time `reading-2`
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- **2025-04-02** Roll call Ayes-43 Nays-0
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- **2025-04-03** Read third time and sent to House `passage, reading-3`
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- **2025-04-03** Scrivener's error corrected
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- **2025-04-09** Introduced and read first time `introduction, reading-1`
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- **2025-04-09** Referred to Committee on Labor, Commerce and Industry `referral-committee`
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- **2025-04-30** Committee report: Favorable with amendment Labor, Commerce and Industry `committee-passage-favorable`
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- **2025-05-01** Amended `amendment-passage`
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- **2025-05-01** Read second time `reading-2`
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- **2025-05-01** Roll call Yeas-106 Nays-0
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- **2025-05-01** Unanimous consent for third reading on next legislative day
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- **2025-05-02** Read third time and returned to Senate with amendments `passage, reading-3`
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- **2025-05-06** Non-concurrence in House amendment
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- **2025-05-08** House recedes from amendment(s)
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- **2025-05-08** Ordered enrolled for ratification
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- **2025-05-20** Ratified R 88
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- **2025-05-22** Signed By Governor `executive-signature`
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- **2025-05-27** Effective date 05/22/25
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- **2025-05-27** Act No. 62
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/f6c153ae-6ce1-49d4-97a4-c5060849c621`. Confidence: reported (aggregated from official South Carolina legislature records).
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