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SC Catastrophe Savings Account (CSA)


SC Catastrophe Savings Account (CSA)

Whether you are in your 1st or 20th year of living in The Lowcountry, many of us keep an eye on the calendar to that ever-approaching date of June 1st.  The beginning of Hurricane Season and we all know the past several years have been active.  

However, not all of us know South Carolina enacted a law in 2007 to help residents pay for expenses resulting from a hurricane, flood or windstorm event.   This law created the Catastrophe Savings Account (CSA) and they could be beneficial after dealing with such tragic events. 

South Carolina residents who own a single-family dwelling (house, condo, townhouse, modular or mobile home) and are legal residents, for SC property tax purposes, can open and contribute to a CSA.  The account must be established at any state or federally chartered bank and be used for qualified catastrophe expenses…

Read more about the SC Catastrophe Savings Account (CSA) here