Reference is to Printer's Date 3/30/11-S.
Amend the bill, as and if amended, by striking all after the enacting words and inserting:
/ SECTION 1. Chapter 61, Title 38 of the 1976 Code is amended by adding:
"Section 38-61-70.
(A) For purposes of this section:
(1)
'Commercial general liability insurance policy' means a
contract of insurance that covers occurrences of damages or
injury during the policy period and insures a construction
professional for liability arising from construction related
work.
(2)
'Construction professional' means a person, sole
proprietorship, partnership, corporation, limited liability
company, or other recognized legal entity that engages in the
development, construction, installation, or repair of an
improvement to real property.
(3)
'Construction related work' means activities by a
construction professional involving the development,
construction, installation, or repair of an improvement to real
property.
(B) Commercial general
liability insurance policies shall contain or be deemed to
contain a definition of 'occurrence' that includes:
(1)
an accident, including continuous or repeated exposure to
substantially the same general harmful conditions; and
(2)
property damage or bodily injury resulting from faulty
workmanship, exclusive of the faulty workmanship itself.
(C) This section is not
intended to restrict or limit the nature or types of exclusions
from coverage that an insurer, including a surplus lines
insurer, may include in a commercial general liability insurance
policy.
(D) This section
applies only to a commercial general liability insurance policy
that insures a construction professional for liability arising
from construction related work.
(E) This section
applies to any pending or future dispute over coverage that
would otherwise be affected by this section as to all commercial
general liability insurance policies issued in the past,
currently in existence, or issued in the future."
SECTION 2. If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the constitutionality or validity of the remaining portions of this act, the General Assembly hereby declaring that it would have passed this act, and each and every section, subsection, paragraph, subparagraph, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more other sections, subsections, paragraphs, subparagraphs, sentences, clauses, phrases, or words hereof may be declared to be unconstitutional, invalid, or otherwise ineffective.
SECTION 3. This act takes effect upon approval by the Governor and applies to any pending or future dispute over coverage that would otherwise be affected by this section as to commercial general liability insurance policies issued in the past, currently in existence, or issued in the future. /
Renumber sections to conform.
Amend title to conform.