The State Fiscal Accountability Authority may reinsure, upon terms which it may deem most advantageous, in a reliable insurance company or companies, such portion of their insurance liability as is commensurate with the principle of safe underwriting. The authority shall from time to time prescribe such rules and regulations as may be necessary in placing and handling this reinsurance.
Authority may reinsure
S.C. Code Ann. § 10-7-120, under Title 10, Chapter 7.
S.C. Code Ann. § 10-7-120