Loans may not be part of legal liabilities but must be reflected in financial statements.

S.C. Code Ann. § 38-19-620
in effect
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Any money so borrowed may not form a part of the insurer's legal liabilities or be the basis of any setoff but, until it is repaid, financial statements filed or published by the insurer shall show as a footnote the amount of the loan then unpaid together with interest accrued but unpaid.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t38c019.phpFetched: 10/17/2026

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