S*0088(Rat #0007, Act #0004 of 1985)  General Bill, By Saleeby and McConnell

Similar(H 2198)
 A Bill to amend Sections 38-27-30 and 38-27-40, Code of Laws of South
 Carolina, 1976, relating to insurance premium service companies, so as to
 require payment of annual license fees by March first of each year instead of
 the thirty-first day of March and to provide that licenses issued to premium
 service companies are for an indefinite term unless revoked or suspended.

   01/15/85  Senate Introduced and read first time SJ-121
   01/15/85  Senate Referred to Committee on Banking and Insurance SJ-12
   01/24/85  Senate Committee report: Favorable Banking and Insurance
                     SJ-236
   01/29/85  Senate Read second time SJ-264
   01/30/85  Senate Read third time and sent to House SJ-276
   01/30/85  House  Introduced and read first time HJ-445
   01/30/85  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-445
   02/19/85  House  Recalled from Committee on Labor, Commerce and
                     Industry HJ-860
   02/20/85  House  Read second time HJ-915
   02/21/85  House  Read third time and enrolled HJ-960
   02/26/85         Ratified R 7
   03/01/85         Signed By Governor
   03/01/85         Effective date 03/01/85
   03/01/85         Act No. 4
   03/06/85         Copies available

AN ACT TO AMEND SECTIONS 38-27-30 AND 38-27-40, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSURANCE PREMIUM SERVICE COMPANIES, SO AS TO REQUIRE PAYMENT OF ANNUAL LICENSE FEES BY MARCH FIRST OF EACH YEAR INSTEAD OF THE THIRTY-FIRST DAY OF MARCH AND TO PROVIDE THAT LICENSES ISSUED TO PREMIUM SERVICE COMPANIES ARE FOR AN INDEFINITE TERM UNLESS REVOKED OR SUSPENDED.

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

License fees

SECTION 1. Subsection (b) of Section 38-27-30 of the 1976 Code is amended to read:

"(b) The annual license fee is five hundred dollars payable on or before the first day of March in each year to the Commissioner, to be deposited by him in the State Treasury."

Term of license

SECTION 2. Section 38-27-40 of the 1976 Code is amended by adding:

"(c) Each license is for an indefinite term unless sooner revoked or suspended if the annual license fee provided in this chapter is paid on or before March first in each year."

Time effective

SECTION 3. This act shall take effect upon approval by the Governor.