South Carolina Legislature


Session 110 - (1993-1994)Printer Friendly
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H*4491 (Rat #0412, Act #0368 of 1994) General Bill, By J.J. Bailey, R.S. Corning, J.T. McElveen, Quinn and Scott
Similar (S 0969)
    A Bill to amend Section 38-27-520, as amended, Code of Laws of South Carolina, 1976, relating to insurers rehabilitation and liquidation, formal proceedings, and the recovery of premiums owed, so as to delete certain language, provide that an agent, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium is obligated to pay any unpaid collected premium held by such person at the time of the declaration of insolvency, whether earned or unearned, and any unpaid earned premium, all as shown on the records of the insurer, and provide that an agent, broker, premium finance company, or any other person has no obligation to pay an uncollected unpaid premium unearned to the liquidator.
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01/13/94House Introduced and read first time HJ-268
01/13/94House Referred to Committee on Labor, Commerce and Industry HJ-268
02/23/94House Committee report: Favorable Labor, Commerce and Industry HJ-8
03/24/94House Read second time HJ-34
03/24/94House Unanimous consent for third reading on next legislative day HJ-35
03/25/94House Read third time and sent to Senate HJ-6
03/29/94Senate Introduced and read first time SJ-9
03/29/94Senate Referred to Committee on Banking and Insurance SJ-9
04/06/94Senate Committee report: Favorable Banking and Insurance SJ-9
04/07/94Senate Read second time SJ-20
04/19/94Senate Read third time and enrolled SJ-12
04/27/94 Ratified R 412
05/02/94 Signed By Governor
05/02/94 Effective date 05/02/94
05/10/94 Act No. 368
05/10/94 Copies available

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