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Current Status Bill Number:View additional legislative information at the LPITS web site.350 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990119 Primary Sponsor:McConnell All Sponsors:McConnell, Matthews, Courtney, Patterson, Reese, Hayes, Jackson, Passailaigue Drafted Document Number:l:\council\bills\nbd\11102jm99.doc Residing Body:Senate Current Committee:Banking and Insurance Committee 02 SBI Subject:Motor vehicle liability insurance, self- insurance, reinsurance; Budget and Control Board to take bids History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990119 Introduced, read first time, 02 SBI referred to Committee Versions of This Bill
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 1-11-147 SO AS TO AUTHORIZE THE BUDGET AND CONTROL BOARD TO LET FOR BIDS ANY AUTOMOBILE LIABILITY REINSURANCE CONTRACT PURSUANT TO SOUTH CAROLINA CONSOLIDATED PROCUREMENT CODE, UNDER CERTAIN CIRCUMSTANCES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 1-11-147. To underwrite automobile liability insurance provided by the Board, the Budget and Control Board is authorized to either self-insure, purchase reinsurance, or use a combination of self-insurance and reinsurance. Should the Board elect to purchase automobile liability reinsurance, the reinsurance shall be procured through a bid process in accordance with the South Carolina Consolidated Procurement Code with a contract term not to exceed three years."
SECTION 2. This act takes effect upon approval by the Governor.
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