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Indicates Matter Stricken
Indicates New Matter
S. 997
STATUS INFORMATION
General Bill
Sponsors: Senators Rose and S. Martin
Document Path: l:\s-res\mtr\041insu.kmm.mtr.docx
Introduced in the Senate on January 12, 2010
Currently residing in the Senate Committee on Banking and Insurance
Summary: Insurance policies
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/9/2009 Senate Prefiled 12/9/2009 Senate Referred to Committee on Banking and Insurance 1/12/2010 Senate Introduced and read first time SJ-51 1/12/2010 Senate Referred to Committee on Banking and Insurance SJ-51
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND CHAPTER 57, TITLE 38 OF THE 1976 CODE, RELATING TO TRADE PRACTICES IN THE INSURANCE INDUSTRY, BY ADDING SECTION 38-57-125 TO PROVIDE THAT A PERSON'S CREDIT HISTORY OR CREDIT REPORT CANNOT BE A FACTOR CONSIDERED WHEN DETERMINING WHETHER TO ISSUE A POLICY OR CONTRACT OR WHEN SETTING PREMIUMS, POLICY FEES, OR OTHER CHARGES FOR AN INSURANCE POLICY OR CONTRACT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 57, Title 38 of the 1976 Code is amended by adding:
"Section 38-57-125. (A) No person may consider an individual's credit history or credit report when determining:
(1) whether to issue an insurance policy or contract; or
(2) the premiums, policy fees, rates, or other charges for an insurance policy or contract.
(B) A violation of this section is an unfair or deceptive act or practice in the insurance business."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, October 10, 2011 at 12:16 P.M.