South Carolina S0210 amends regulations for captive insurance companies, including foreign entities, by modifying licensing, reporting, and financial.

South Carolina S0210 amends the South Carolina Code to update regulations for captive insurance companies. The bill modifies licensing requirements for alien and foreign captive insurance companies, allowing them to operate in the state if they meet certain conditions. It also updates reporting requirements, including the submission of annual financial reports and the conversion of non-U.S. currency to U.S. currency for tax payments.

South Carolina S0210 amends regulations for captive insurance companies, including foreign entities, by modifying licensing, reporting, and financial.

South Carolina S0210 amends the South Carolina Code to update regulations for captive insurance companies. The bill modifies licensing requirements for alien and foreign captive insurance companies, allowing them to operate in the state if they meet certain conditions. It also updates reporting requirements, including the submission of annual financial reports and the conversion of non-U.S. currency to U.S. currency for tax payments.