S 1132 General Bill, By Thomas
Similar (H 4939)
Summary: Insurance
    A BILL TO AMEND SECTION 38-1-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS USED IN MATTERS RELATING TO INSURANCE, SO AS TO REDEFINE "ADMITTED ASSETS"; TO AMEND SECTION 38-9-10, RELATING TO CAPITAL AND SURPLUS REQUIRED OF STOCK INSURERS, SO AS TO REQUIRE THE INSURER TO LIST THOSE THAT QUALIFY AS ADMITTED ASSETS ON THE INSURER'S MOST RECENT STATUTORY FINANCIAL STATEMENT FILED WITH THE DEPARTMENT OF INSURANCE; TO AMEND SECTION 38-9-20, RELATING TO THE SURPLUS REQUIRED OF MUTUAL INSURERS, SO AS TO REQUIRE THE INSURER TO LIST THOSE THAT QUALIFY AS ADMITTED ASSETS ON THE INSURER'S MOST RECENT STATUTORY FINANCIAL STATEMENT FILED WITH THE DEPARTMENT OF INSURANCE; TO AMEND SECTION 38-9-210, RELATING TO THE REDUCTION FROM LIABILITY FOR REINSURANCE, SO AS TO REQUIRE A SECURITY TO MEET CERTAIN REQUIREMENTS CONSISTENT WITH THE DEFINITION OF "ADMITTED ASSETS" AS DEFINED IN SECTION 38-1-20 AS AMENDED BY THIS ACT; TO AMEND SECTION 38-10-40, RELATING TO PROTECTED CELL ASSETS, SO AS TO DELETE THE AUTHORIZATION FOR ATTRIBUTABLE ASSET OF A PROTECTED CELL TO BE INVESTED AND REINVESTED WITHOUT REGARD TO THE REQUIREMENTS OF SECTIONS 38-11-40 AND 38-11-50; AND TO AMEND SECTION 38-55-80, RELATING TO LOANS BY AN INSURER TO ITS DIRECTORS OR OFFICERS, SO AS TO DELETE THE LIMITATION ON MORTGAGE LOANS OR RESIDENCES ACQUIRED UNDER THIS SECTION PURSUANT TO THE PROVISIONS OF SECTION 38-11-50.
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02/20/08	Senate	Introduced and read first time SJ-9
02/20/08	Senate	Referred to Committee on Banking and Insurance SJ-9
03/13/08	Senate	Committee report: Favorable with amendment Banking and Insurance SJ-4
04/30/08	Senate	Committee Amendment Adopted SJ-41
04/30/08	Senate	Read second time SJ-41
05/01/08	Senate	Read third time and sent to House SJ-31
05/06/08	House	Introduced and read first time HJ-32
05/06/08	House	Referred to Committee on Labor, Commerce and Industry HJ-33