S*1114(Rat #0562, Act #0469 of 1990)  General Bill, By 
Senate Banking and Insurance
 A Bill to amend Section 38-75-310, Code of Laws of South Carolina, 1976,
 relating to the definitions pertaining to windstorm and hail insurance;
 Section 38-75-320, relating to the purpose of the windstorm and hail insurance
 provisions; and Section 38-75-330, relating to the creation and members of the
 Windstorm and Hail Underwriting Association, so as to change the references to
 windstorm to wind and to define the Wind and Hail Underwriting Association and
 its membership exemptions.-amended title

   01/18/90  Senate Introduced, read first time, placed on calendar
                     without reference SJ-9
   01/23/90  Senate Read second time SJ-21
   01/25/90  Senate Read third time and sent to House SJ-18
   01/30/90  House  Introduced and read first time HJ-20
   01/30/90  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-20
   04/04/90  House  Committee report: Favorable with amendment Labor,
                     Commerce and Industry HJ-8
   04/05/90  House  Debate adjourned until Tuesday, April 10, 1990 HJ-5
   04/10/90  House  Amended HJ-32
   04/10/90  House  Read second time HJ-33
   04/11/90  House  Read third time and returned to Senate with
                     amendments HJ-16
   04/19/90  Senate House amendment amended SJ-16
   04/20/90  Senate Returned to House with amendments SJ-17
   04/25/90  House  Debate adjourned on Senate amendments until
                     Thursday, April 26, 1990 HJ-50
   05/02/90  House  Concurred in Senate amendment and enrolled HJ-42
   05/08/90         Ratified R 562
   05/14/90         Signed By Governor
   05/14/90         Effective date 05/14/90
   05/14/90         Act No. 469
   06/13/90         Copies available

AN ACT TO AMEND SECTION 38-75-310, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITIONS PERTAINING TO WINDSTORM AND HAIL INSURANCE; SECTION 38-75-320, RELATING TO THE PURPOSE OF THE WINDSTORM AND HAIL INSURANCE PROVISIONS; AND SECTION 38-75-330, RELATING TO THE CREATION AND MEMBERS OF THE WINDSTORM AND HAIL UNDERWRITING ASSOCIATION, SO AS TO CHANGE THE REFERENCES TO WINDSTORM TO WIND AND TO DEFINE THE WIND AND HAIL UNDERWRITING ASSOCIATION AND ITS MEMBERSHIP EXEMPTIONS.

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

Definitions

SECTION 1. Section 38-75-310(1) and (2) of the 1976 Code are amended to read:

"(1) 'Essential property insurance' means insurance against direct loss to property as defined and limited in the wind and hail insurance policy and forms approved by the commissioner.

(2) 'Association' means the South Carolina Wind and Hail Underwriting Association established pursuant to the provisions of this article."

Purpose

SECTION 2. Section 38-75-320 of the 1976 Code is amended to read:

"Section 38-75-320. The purpose of this article is to provide a method whereby wind and hail insurance may be obtained more easily and equitably in the coastal areas of this State."

Wind and Hail Underwriting Association

SECTION 3. Section 38-75-330 of the 1976 Code is amended to read:

"Section 38-75-330. There is created the South Carolina Wind and Hail Underwriting Association, an unincorporated association whose responsibilities, liability, and regulations are governed and defined by this article, consisting of all private insurers authorized to write and engage in writing property insurance within this State on a direct and statewide basis, but excluding insurers whose writings are limited to property wholly owned by parent, subsidiary, or allied organizations, or insurers whose writings are limited to property wholly owned by religious organizations, provided, however, as a condition of exemption from membership such insurers providing property insurance for insurable property in the coastal area as defined by this article shall also provide essential property insurance for such risks. Every such insurer must be a member of the association and must remain a member of the association so long as the association is in existence as a condition of its authority to continue to transact the business of insurance in this State."

Time effective

SECTION 4. This act takes effect upon approval by the Governor.

Approved the 14th day of May, 1990.