Current Status Introducing Body:Senate Bill Number:1245 Primary Sponsor:Saleeby Committee Number:02 Type of Legislation:GB Subject:Workers' compensation, self-insurance Residing Body:Senate Current Committee:Banking and Insurance Companion Bill Number:1362 Computer Document Number:NO5/8044.BD Introduced Date:Feb 04, 1992 Last History Body:Senate Last History Date:Feb 04, 1992 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Saleeby Land McConnell Mullinax Pope Lourie Type of Legislation:General Bill
Bill Body Date Action Description CMN
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1245 Senate Feb 04, 1992 Introduced, read first time, 02
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 42-5-25 SO AS TO PROVIDE TEMPORARY WORKERS' COMPENSATION COVERAGE FOR AN APPLICANT TO AN APPROVED SELF-INSURANCE FUND.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 42-5-25. (A) An approved self-insurance fund may provide temporary coverage for an applicant if he:
(1) submits to the self-insurance division the required completed and signed forms including, but not limited to, an application form with a twenty-five dollar fee;
(2) qualifies for membership in the fund;
(3) qualifies under the by-laws of the fund;
(4) operates a business similar in nature to the businesses in the fund;
(5) is financially sound and has a net worth of not less than twenty-five thousand dollars;
(6) notifies the division in writing on or before the coverage date.
(B) Temporary coverage begins on the day and at the time the required forms are submitted to the division. However, the staff of the division, upon a finding that the applicant does not meet the requirements in subsection (A), may reject the application within forty-eight hours after the forms are submitted.
(C) Temporary coverage expires when the full commission approves the applicant or thirty days after the full commission rejects the applicant. The effective date on the certificate for self-insurance must show the original, temporary, coverage date."
SECTION 2. This act takes effect upon approval by the Governor.