I will post the UL info in it's context and you can decide if UL is silent on this.

I will also post some handbook opinion and some NEC definitions.

2003 UL White White Book.
Quote
SERVICE CABLE (TXKT)
SERVICE ENTRANCE CABLE (TYLZ)
GENERAL

This category covers service entrance cable designated Type SE and Type USE for use in accordance with Article 338 of NFPA 70, ‘‘National Electrical Code’’ (NEC).

Service entrance cable, rated 600 V, is Listed in sizes 14 AWG and larger for copper, and 12 AWG and larger for aluminum or copper-clad aluminum. Type SE cable contains Type RHW, RHW-2, XHHW, XHHW-2, THWN or THWN-2 conductors. Type USE cable contains conductors with insulation equivalent to RHW or XHHW. Type USE-2 contains insulation equivalent to RHW-2 or XHHW-2 and is rated 90°C wet or dry.

The cable is designated as follows:

Type SE — Indicates cable for aboveground installation. Both the individual insulated conductors and the outer jacket or finish of Type SE are suitable for use where exposed to sun.

Types USE and USE-2 — Indicates cable for underground installation including direct burial in the earth. Cable in sizes 4/0 AWG and smaller and having all conductors insulated is suitable for all of the underground uses for which Type UF cable is permitted by the NEC. Types USE and USE-2 are not suitable for use in premises or aboveground except to terminate at the service equipment or metering equipment. Both the insulation and the outer covering, when used, on single and multiconductor Types USE and USE-2, are suitable for use where exposed to sun.

Now honestly, don't you think it would say "Type SE — Indicates cable for aboveground or underground installation." if that was what the listing allowed?

Here is some info from the 2002 NEC handbook following 338.1

Quote
Type SE, cable for aboveground installation. Both the individual insulated conductors and the outer jacket or finish of Type SE are suitable for use where exposed to sun.

Type USE or USE-2, cable for underground installation, including burial directly in the earth. Cable in sizes 4/0 AWG and smaller and having all conductors insulated is suitable for all of the underground uses for which Type UF cable is permitted by the Code. Types USE and USE-2 are not suitable for use in premises or above ground except to terminate at the service equipment or metering equipment. Both the insulation and the outer covering, when used on single and multiconductor Types USE and USE-2, are suitable for use where exposed to sun.


Please note no mention of using SE underground.

Here is 2002 NEC 338.2
Quote
338.2 Definitions.
Service-Entrance Cable. A single conductor or multiconductor assembly provided with or without an overall covering, primarily used for services, and of the following types:

Type SE. Service-entrance cable having a flame-retardant, moisture-resistant covering.

Type USE. Service-entrance cable, identified for underground use, having a moisture-resistant covering, but not required to have a flame-retardant covering.

Notice that the definition for type SE is missing the words "identified for underground use" that are present in the definition for type USE.

I hope someone else will jump in here, I have a lot of respect for Tom's opinions he is a knowledgeable member here and perhaps there is something I am missing.

Bob


Bob Badger
Construction & Maintenance Electrician
Massachusetts