A South Carolina Participation Agreement is a legal contract established between First American Ins. Portfolios, Inc. (hereinafter referred to as "First American") and SET Investments Distribution Co. (hereinafter referred to as "SET"). It outlines the terms and conditions under which First American agrees to allow SET to participate in its investment portfolios within the South Carolina jurisdiction. This agreement ensures that both parties comply with state regulations and operate within the confines of the law. The key purpose of a South Carolina Participation Agreement is to define the rights and responsibilities of both First American and SET. It establishes the terms under which SET is allowed to distribute First American's investment products within South Carolina. The agreement also specifies the compensation structure, compliance requirements, and other essential details to ensure a smooth and mutually beneficial relationship between the parties involved. Keywords: 1. South Carolina Participation Agreement: The contract specific to participating in investment portfolios within the state of South Carolina. 2. First American Ins. Portfolios, Inc.: The primary party offering investment portfolios and entering into the agreement. 3. SET Investments Distribution Co.: The secondary party that is seeking permission to distribute First American's investment products in South Carolina. 4. Legal Contract: The legally binding agreement between the two parties, outlining their obligations and responsibilities. 5. Investment Portfolios: Securities, assets, or funds managed by First American that are available for distribution. Different Types of South Carolina Participation Agreement: While the primary framework of a South Carolina Participation Agreement remains the same, there may be variations based on the specific investment portfolios or distribution methods involved. For example: 1. Mutual Fund Participation Agreement: This agreement applies when First American's investment products include mutual funds that SET intends to distribute within South Carolina. 2. Variable Annuity Participation Agreement: If First American offers variable annuities, a specialized participation agreement may be required to regulate their distribution by SET in South Carolina. 3. Collective Investment Trust Participation Agreement: In case First American manages collective investment trusts (City), a unique agreement may be necessary for SET's involvement in distributing these City across the state. These distinct types of participation agreements cater to the diverse investment products offered by First American and the specific requirements associated with their distribution within the South Carolina market.