Terms Used In South Carolina Code 38-12-250

• Accident and health insurer: means a licensed life or health insurer or health service corporation whose insurance premiums and required statutory reserves for accident and health insurance are at least ninety-five percent of total premium consideration or total statutory required reserves, respectively. See South Carolina Code 38-12-30
• Admitted assets: means assets of an insurer considered admitted on the most recent statutory financial statement of the insurer filed with the department pursuant to § 38-13-80. See South Carolina Code 38-1-20
• Affiliate: means , in respect to a person, another person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person. See South Carolina Code 38-12-30
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• directly: when used in connection with an obligation, means that the designated obligor is primarily liable on the instrument representing the obligation. See South Carolina Code 38-12-30
• Equity interest: means any of the following that are not rated credit instruments:
  
  (a) common stock;
  
  (b) preferred stock;
  
  (c) trust certificate;
  
  (d) equity investment in an investment company other than a money market mutual fund or a class one bond mutual fund;
  
  (e) investment in a common trust fund of a bank regulated by a federal or state agency;
  
  (f) an ownership interest in minerals, oil, or gas, the rights to which have been separated from the underlying fee interest in the real estate where the minerals, oil, or gas are located;
  
  (g) instruments which are mandatorily, or at the option of the issuer, convertible to equity;
  
  (h) limited partnership interests and those general partnership interests authorized by § 38-12-60(A)(4);
  
  (i) member interests in limited liability companies;
  
  (j) warrants or other rights to acquire equity interests that are created by the owner or issuer of the equity to be acquired; or
  
  (k) instruments that would be rated credit instruments except for the provisions of item (73)(b). See South Carolina Code 38-12-30
• Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
• Investment affiliate: means a subsidiary of an insurer or a direct or indirect subsidiary of the insurer's parent company (parent) that is engaged or organized to engage exclusively in the ownership and management of assets authorized as investments for the insurer, if the affiliate agrees to limit its investment in any asset so that its investments will not cause the amount of the total investment of the insurer to exceed the investment limitations or avoid other provisions of this chapter applicable to the insurer. See South Carolina Code 38-12-30
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Qualified exchange: means :
  
  (a) a securities exchange registered as a national securities exchange, or a securities market regulated pursuant to the Securities Exchange Act of 1934 (15 U. See South Carolina Code 38-12-30
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See South Carolina Code 38-1-20