Current Status Introducing Body:Senate Bill Number:524 Primary Sponsor:Bryan Committee Number:02 Type of Legislation:GB Subject:Chief Insurance Commissioner, election of Residing Body:Senate Current Committee:Banking and Insurance Companion Bill Number:3679 Computer Document Number:524 Introduced Date:Jan 22, 1991 Last History Body:Senate Last History Date:Jan 22, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Bryan Lourie Peeler Type of Legislation:General Bill
Bill Body Date Action Description CMN
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524 Senate Jan 22, 1991 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 38-3-102 SO AS TO PROVIDE THAT THE CHIEF INSURANCE COMMISSIONER MUST BE ELECTED AND TO PROVIDE FOR HIS TERM, QUALIFICATIONS, AND FOR THE FILLING OF VACANCIES; TO AMEND SECTION 38-3-60, RELATING TO THE INSURANCE COMMISSION AND THE CHIEF INSURANCE COMMISSIONER, SO AS TO DELETE THE LANGUAGE EMPOWERING THE COMMISSION TO SELECT AND EMPLOY THE CHIEF INSURANCE COMMISSIONER; AND TO REPEAL SECTION 38-3-100 RELATING TO THE CHIEF INSURANCE COMMISSIONER, EFFECTIVE UPON HIS ELECTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 38-3-102. (A) The Chief Insurance Commissioner must be elected by the qualified electors of the State in the general election commencing in 1994 and each four years thereafter. He may succeed himself in the office. His term begins at noon on the first Wednesday following the second Tuesday in January next after his election and ends at noon on the first Wednesday following the second Tuesday in January four years later.
(B) The Chief Insurance Commissioner is not subject to the State Employee Grievance Committee nor any internal grievance procedure established by the Department of Insurance. He shall receive an annual salary as may be provided by law. He must be at least thirty years of age. He may not hold any other public office while serving as Chief Insurance Commissioner but shall devote all of his working time to the duties of his office as provided by law. Before taking the oath of office he shall sever all connections, either direct or indirect, except as a policyholder, with any insurance company or agency and shall maintain the severance during his tenure of office. If he becomes a candidate for any other public office or becomes a member of a political committee during tenure, his office as Chief Insurance Commissioner must be vacated immediately.
(C) In case any vacancy occurs in the office of Chief Insurance Commissioner for any reason, the vacancy must be filled by the Insurance Commission of South Carolina for the unexpired portion of the term.
(D) The Chief Insurance Commissioner serving on the effective date of this act shall continue to serve until his successor is elected and qualifies pursuant to the provisions of this section."
SECTION 2. Section 38-3-60 of the 1976 Code is amended to read:
"Section 38-3-60. The commission shall select and employ a Chief Insurance Commissioner and shall issue to him the Chief Insurance Commissioner general policies and broad objectives regarding the operation of the insurance industry in this State. The commission shall review, amend, and supplement these policies and objectives as it sees fit, shall require the Chief Insurance Commissioner to pursue forcefully the policies and objectives but shall leave to the Chief Insurance Commissioner the task of developing and implementing specific plans, programs, and techniques necessary to further the commission's policies and objectives."
SECTION 3. The provisions of Section 38-3-100 do not apply to any Chief Insurance Commission elected in the manner specified by Section 38-3-102, or to any person who is a candidate for this office in the election, and upon the Chief Insurance Commissioner elected in 1994 taking office, Section 38-3-100 is repealed.
SECTION 4. This act takes effect upon approval by the Governor.