That's a good question. I recently asked the AHJ in my area about that and they said NO. SER is not rated for wet locations, as in within pipe underground but OK for damp locations. My understanding is that for a piece of SER running from an outdoor disconnect along a wall will be OK.
I agree. Anyone else have any thoughts on this? My guess would be that the cable consists of type XHHW conductors so it falls into a gray area; perhaps the outer jacket of the cable comes into play in making this determination. I really wouldn't do this kind of installation anyway, so I never even looked into the code book about it.
