SC S0619

Amends Section 38-27-610 of the South Carolina Code regarding the priority of distribution for claims during insurer liquidation proceedings

Adds "funding agreements" to Class 2 priority claims alongside life insurance and annuity policies, ensuring holders receive the same treatment as policyholders

Class 2 claims include losses incurred, loss claims, third party claims, and guaranty association claims, with death proceeds, annuity proceeds, and investment values treated as loss claims

Bill introduced by Senators Gambrell and Turner, first read April 29, 2025, and reported favorably by the Senate Banking and Insurance Committee on February 12, 2026