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Section 38-90-500. Swap agreements and other forms of asset management agreements.

SC Code § 38-90-500 (2019) (N/A)
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A SPFC may enter into swap agreements, or other forms of asset management agreements, including guaranteed investment contracts, or other transactions that have the objective of leveling timing differences in funding of up-front or ongoing transaction expenses or managing asset, credit, or interest rate risk of the investments in the trust to ensure that the investments are sufficient to assure payment or repayment of the securities, and related interest or principal payments, issued pursuant to a SPFC insurance securitization transaction or the obligations of the SPFC under the SPFC contract.

HISTORY: 2004 Act No. 291, Section 28, eff July 29, 2004.

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