H*4498(Rat #0411, Act #0367)  General Bill, By J.J. Bailey, R.S. Corning, 
J.T. McElveen, Quinn and Scott

Similar(S 973)
 A Bill to amend Section 38-31-30, Code of Laws of South Carolina, 1976,
 relating to the application of Chapter 31 of Title 38 dealing with the South
 Carolina Property and Casualty Insurance Guaranty Association, so as to define
 "ocean marine insurance" (an area to which the Chapter does not apply).

   01/13/94  House  Introduced and read first time HJ-270
   01/13/94  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-270
   02/16/94  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-16
   03/23/94  House  Read second time HJ-47
   03/24/94  House  Read third time and sent to Senate HJ-13
   03/29/94  Senate Introduced and read first time SJ-11
   03/29/94  Senate Referred to Committee on Banking and Insurance SJ-12
   04/06/94  Senate Committee report: Favorable Banking and Insurance SJ-11
   04/07/94  Senate Read second time SJ-21
   04/19/94  Senate Read third time and enrolled SJ-13
   04/27/94         Ratified R 411
   05/02/94         Signed By Governor
   05/02/94         Effective date 05/02/94
   05/10/94         Copies available

AN ACT TO AMEND SECTION 38-31-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICATION OF CHAPTER 31 OF TITLE 38 DEALING WITH THE SOUTH CAROLINA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION, SO AS TO DEFINE "OCEAN MARINE INSURANCE" (AN AREA TO WHICH THE CHAPTER DOES NOT APPLY).

Be it enacted by the General Assembly of the State of South Carolina:

Ocean marine insurance defined

SECTION 1. Section 38-31-30(8) of the 1976 Code is amended to read:

"(8) ocean marine insurance; ocean marine insurance includes marine insurance as defined in Section 38-1-20(28), except for inland marine, and includes any other form of insurance, regardless of the name, label, or marketing designation of the insurance policy, which insures against maritime perils or risks and other related perils or risks, which are usually insured against by traditional marine insurance, such as hull and machinery, marine builders risk, and marine protection and indemnity. Such perils and risk insured against include without limitation loss, damage, or expense or legal liability of the insured for loss, damage, or expense arising out of or incident to ownership, operation, chartering, maintenance, use, repair, or construction of any vessel, craft, or instrumentality in use in ocean or inland waterways, including liability of the insured for personal injury, illness, or death or for loss or damage to the property of the insured or another person;".

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 2nd day of May, 1994.