Current Status Bill Number:3429 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950131 Primary Sponsor:Felder All Sponsors:Felder Drafted Document Number:bbm\9809jm.95 Residing Body:House Date Tabled:19950418 Current Committee:Labor, Commerce and Industry Committee 26 HLCI Subject:Motor vehicle insurance
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19950418 Tabled in Committee 26 HLCI
House 19950131 Introduced, read first time, 26 HLCI
referred to Committee
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TO AMEND SECTION 38-73-735, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AUTOMOBILE INSURANCE, THE STATE RATING AND STATISTICAL DIVISION, AND PLAN FOR CREDITS AND DISCOUNTS, SO AS TO DELETE CERTAIN LANGUAGE AND PROVIDE, AMONG OTHER THINGS, THAT IF AN INSURANCE CREDIT OR DISCOUNT PLAN, OTHER THAN THAT PROMULGATED BY THE DIRECTOR OR HIS DESIGNEE, IS GIVEN TO AN INSURED PURSUANT TO THIS SECTION, THE POLICY MAY NOT BE CEDED TO THE REINSURANCE FACILITY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-73-735 of the 1976 Code, is last amended by Section 783 of Act 181 of 1993, is further amended to read:
"Section 38-73-735. In addition to risk and territorial classification plans promulgated or approved under Section 38-73-730, the department director or his designee may promulgate plans to afford credits or discounts to automobile insureds, or he may approve the credit or discount plans filed with him by insurers of automobile insurance. No automobile insurance credit or discount plan may be promulgated or approved by the director or his designee unless:
(1) the criteria for determining eligibility for credits or discounts under the plan are objective, clear, and unequivocal;
(2) the criteria are based upon factually or statistically supported data; and
(3) the credits or discounts provided under the plan will be afforded by the insurer on a nondiscriminatory basis to all insureds who are eligible therefor. If an insurance credit or discount plan, other than that promulgated by the director or his designee, is given to an insured pursuant to this section, the policy may not be ceded to the Reinsurance Facility in accordance with the facility's plan of operation."
SECTION 2. This act takes effect upon approval by the Governor.