H 4458 General Bill, By Talley and Sheheen
Summary: Motor vehicle insurance, creditworthiness may not be used as a factor in determining premium rates
    A BILL TO AMEND SECTION 38-1-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE INSURANCE LAW, SO AS TO ADD A DEFINITION FOR "CREDIT SCORE", TO AMEND SECTION 38-73-740, RELATING RECORDS AND IN DETERMINING CLASSIFICATIONS AND RATES OF APPLICANTS FOR AUTOMOBILE INSURANCE WHICH MUST BE MAINTAINED BY AUTOMOBILE INSURERS FOR AT LEAST THREE YEARS, SO AS TO DELETE REFERENCES TO INVESTIGATIVE AND CREDIT REPORTS; AND TO AMEND SECTIONS 38-77-122 AND 38-77-123, RELATING TO THE PROHIBITION ON AUTOMOBILE INSURERS AND AGENTS FROM REFUSING TO ISSUE, OR RENEW, AUTOMOBILE INSURANCE POLICIES DUE TO CERTAIN FACTORS, FACTORS PROHIBITED IN DETERMINING PREMIUM RATES, REQUIREMENTS FOR CANCELLATION, AND PENALTIES FOR VIOLATIONS, SO AS TO PROHIBIT THE USE OF CREDIT SCORE AS A FACTOR IN REFUSING TO ISSUE OR RENEW A POLICY OF AUTOMOBILE INSURANCE AND TO PROHIBIT THE USE OF CREDIT IN DETERMINING AUTOMOBILE INSURANCE POLICY PREMIUM RATES.
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01/08/02	House	Introduced and read first time HJ-44
01/08/02	House	Referred to Committee on Labor, Commerce and Industry HJ-45
01/31/02	House	Member(s) request name added as sponsor: Sheheen