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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-73-750 SO AS TO REQUIRE AUTOMOBILE INSURERS TO NOTIFY INSUREDS WHEN PREMIUMS ARE INCREASED RESULTING FROM CHANGES IN A CREDIT REPORT OF THE INSURED AND REQUIRE THE INSURER TO SEND A COPY OF THE CREDIT REPORT WHEN NOTIFYING THE INSURED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 7, Chapter 73, Title 38 of the 1976 Code is amended by adding:
"Section 38-73-750. If the premiums of an insured are increased by an automobile insurer because of a credit report, the insurer shall notify the insured of this fact and include a copy of the credit report of the insured upon which the insurer based its premium increase at no cost to the insured."
SECTION 2. This act takes effect upon approval by the Governor.
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