H*3553(Rat #0068, Act #0176 of 1991)  Joint Resolution, By J.J. Bailey, 
R.S. Corning, J.T. McElveen, Quinn and Scott
 A Joint Resolution to authorize the operation losses of the Reinsurance
 Facility for a twelve-month period attributable to Hurricane Hugo to be
 recouped in the subsequent thirty-six month period by utilizing an on-level
 recoupment charge component by applicable coverage for all risks regardless of
 the surcharge points of each risk under the Uniform Merit Rating Plan.

   02/20/91  House  Introduced and read first time HJ-13
   02/20/91  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-14
   03/20/91  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-5
   03/26/91  House  Read second time HJ-15
   03/28/91  House  Read third time and sent to Senate HJ-19
   04/02/91  Senate Introduced and read first time SJ-9
   04/02/91  Senate Referred to Committee on Banking and Insurance SJ-1
   04/02/91  Senate Recalled from Committee on Banking and Insurance SJ-16
   04/03/91  Senate Read second time SJ-18
   04/04/91  Senate Read third time and enrolled SJ-23
   04/18/91         Ratified R 68
   04/25/91         Signed By Governor
   04/25/91         Effective date 04/25/91
   04/25/91         Act No. 176
   05/03/91         Copies available

A JOINT RESOLUTION TO AUTHORIZE THE OPERATION LOSSES OF THE REINSURANCE FACILITY FOR A TWELVE-MONTH PERIOD ATTRIBUTABLE TO HURRICANE HUGO TO BE RECOUPED IN THE SUBSEQUENT THIRTY-SIX MONTH PERIOD BY UTILIZING AN ON-LEVEL RECOUPMENT CHARGE COMPONENT BY APPLICABLE COVERAGE FOR ALL RISKS REGARDLESS OF THE SURCHARGE POINTS OF EACH RISK UNDER THE UNIFORM MERIT RATING PLAN.

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

Recoupment of operation losses of the Reinsurance Facility due to Hurricane Hugo

SECTION 1. The operation losses of the South Carolina Reinsurance Facility for a twelve-month period attributable to Hurricane Hugo, at the discretion of the Chief Insurance Commissioner and upon the recommendation of the governing board of the facility, may be recouped in the subsequent thirty-six month period by utilizing an on-level recoupment charge component by applicable coverage for all risks regardless of the number of surcharge points of each risk under the Uniform Merit Rating Plan.

Time effective

SECTION 2. This joint resolution takes effect upon approval by the Governor.

Approved the 25th day of April, 1991.