South Carolina General Assembly
116th Session, 2005-2006

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Indicates Matter Stricken
Indicates New Matter

S. 569

STATUS INFORMATION

General Bill
Sponsors: Senators Patterson, Land, Hutto and Matthews
Document Path: l:\council\bills\dka\3231dw05.doc

Introduced in the Senate on March 3, 2005
Currently residing in the Senate Committee on Banking and Insurance

Summary: Insurance company may not use the performance of life insurance financial investment sales an agent produces in evaluating their performance

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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    3/3/2005  Senate  Introduced and read first time SJ-5
    3/3/2005  Senate  Referred to Committee on Banking and Insurance SJ-5

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/3/2005

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-43-57 SO AS TO PROVIDE THAT AN INSURANCE COMPANY MAY NOT USE THE PERFORMANCE OF LIFE INSURANCE FINANCIAL INVESTMENT SALES AN AGENT PRODUCES IN EVALUATING THE AGENT'S PERFORMANCE IN DETERMINING WHETHER OR NOT TO TERMINATE AN AGENT FROM THE COMPANY.

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

SECTION    1.    Chapter 43, Title 38 of the 1976 Code is amended by adding:

"Section 38-43-57.    In evaluating an agent, an insurance company may not use the production of life insurance financial investment sales in determining whether or not to terminate an agent from the company."

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

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