S*1089(Rat #0314, Act #0306 of 1988)  General Bill, By 
Senate Banking and Insurance

Similar(S 952)
 A Bill to amend Sections 38-79-110, 38-79-120, and 38-79-250, Code of Laws of
 South Carolina, 1976, relating to the South Carolina Medical Malpractice
 Liability Joint Underwriting Association, so as to exclude homeowners and
 farmowners liability from net direct premiums of the Association.

   01/26/88  Senate Introduced, read first time, placed on calendar
                     without reference SJ-12
   01/28/88  Senate Read second time SJ-34
   01/28/88  Senate Ordered to third reading with notice of
                     amendments SJ-34
   02/04/88  Senate Read third time and sent to House SJ-8
   02/09/88  House  Introduced, read first time, placed on calendar
                     without reference HJ-993
   02/11/88  House  Read second time HJ-1111
   02/11/88  House  Unanimous consent for third reading on next
                     legislative day HJ-1112
   02/12/88  House  Read third time and enrolled HJ-1169
   02/18/88         Ratified R 314
   02/24/88         Signed By Governor
   02/24/88         Effective date 07/01/88
   02/24/88         Act No. 306
   03/08/88         Copies available

AN ACT TO AMEND SECTIONS 38-79-110, 38-79-120, AND 38-79-250, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SOUTH CAROLINA MEDICAL MALPRACTICE LIABILITY JOINT UNDERWRITING ASSOCIATION, SO AS TO EXCLUDE HOMEOWNERS AND FARMOWNERS LIABILITY FROM NET DIRECT PREMIUMS OF THE ASSOCIATION.

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

Definitions

SECTION 1. Section 38-79-110(4) of the 1976 Code is amended to read:

"(4) 'Net direct premiums' means gross direct premiums written on bodily injury liability insurance, other than automobile liability insurance, homeowners liability insurance, and farmowners liability insurance, including the liability component of multiple peril package policies, as computed by the Commissioner, less return premiums or the unused or unabsorbed portions of premium deposits."

Association created

SECTION 2. Section 38-79-120(1) of the 1976 Code is amended to read:

"(1) A joint underwriting association (Association) is created, consisting of all insurers authorized to write within this State, on a direct basis, bodily injury liability insurance, other than automobile bodily injury liability insurance, homeowners liability insurance, and farmowners liability insurance, including insurers covering such peril in multiple peril package policies. Every such insurer is and must remain a member of the Association as a condition of its authority to continue to transact such kind of insurance in this State."

Obligations of terminated members

SECTION 3. Section 38-79-250(1) of the 1976 Code is amended to read:

"(1) If the authority of an insurer to transact bodily - injury liability insurance, other other than automobile, homeowners, or farmowners, in this State terminates for any reason its obligations as a member of the Association nevertheless continue until all its obligations have been fulfilled and the Commissioner has so found and certified to the board of directors."

Time effective

SECTION 4. This act takes effect July 1, 1988.