S 0061 General Bill, By Fair
 A BILL TO AMEND SECTION 58-23-1220, AS AMENDED, CODE OF LAWS OF SOUTH
 CAROLINA, 1976, RELATING TO LIABILITY INSURANCE LIMITS FOR A TAXI, SO AS TO
 INCREASE THE MINIMUM LIMITS; AND TO AMEND SECTION 58-23-1230, RELATING TO
 FILING A BOND IN LIEU OF LIABILITY INSURANCE FOR A TAXI, SO AS TO INCREASE THE
 REQUIRED MINIMUM AMOUNT OF THE BOND.

   12/13/12  Senate Prefiled
   12/13/12  Senate Referred to Committee on Transportation
   01/08/13  Senate Introduced and read first time (Senate Journal-page 54)
   01/08/13  Senate Referred to Committee on Transportation
                     (Senate Journal-page 54)

TO AMEND SECTION 58-23-1220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LIABILITY INSURANCE LIMITS FOR A TAXI, SO AS TO INCREASE THE MINIMUM LIMITS; AND TO AMEND SECTION 58-23-1230, RELATING TO FILING A BOND IN LIEU OF LIABILITY INSURANCE FOR A TAXI, SO AS TO INCREASE THE REQUIRED MINIMUM AMOUNT OF THE BOND.

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

SECTION    1.    Section 58-23-1220 of the 1976 Code, as last amended by Act 181 of 1993, is further amended to read:

"Section 58-23-1220.    (A)    Before the issuance of any such a tax license card or plate, the owner of the taxi shall procure and file with the governing body of the county a liability insurance policy, together with a receipt showing the payment of the premium therefor for it, issued by a good and responsible insurance company to be approved by the governing body of the county, the company being one authorized to do business in this State and in possession of a certificate issued by the Department of Insurance.     (B)    The amount of such this liability insurance for each car shall must be as follows: An an amount not less than five one hundred thousand dollars for personal injury and an amount not less than one fifty thousand dollars for property damage in any one accident.

(C)    Such This policy of insurance may be in the form of a separate policy for each taxi or may be in the form of a fleet policy covering all taxis operated by such the owner if such the policy shall provide provides for the same amount of liability for each taxi operated.

(D)    A stipulation shall must be made providing that no such policy above required the policy may not be canceled until the expiration of five days after notice of intended cancellation has been given in writing to the governing body of the county by registered mail or personal delivery of such the notice."

SECTION    2.    Section 58-23-1230 of the 1976 Code is amended to read:

"Section 58-23-1230.    (A)    In lieu of an insurance policy as required by Section 58-23-1220 a bond or bonds may be filed with the governing body of the county in the sum of not less than five one hundred thousand dollars for personal injuries and one fifty thousand dollars for property damages in any one accident, such. The bond or bonds to be given by the owner of the taxi must give the bond with good and sufficient surety providing for the payment of any damages or injuries that may result in from the operation of the taxi on substantially the same terms and conditions as the usual liability insurance policy.

(B)    The surety on any such bonds as the bond may be as follows:

(a1)    cash deposited with the governing body of the county,;             (b2)    bonds of this State, or the United States of a face value equal to the amount of the surety bond; or

(c3)    any responsible surety or bonding company licensed to transact business in the State and in such the county.

(C)    The form and sureties on the bond and all matters incidental to the filing thereof shall of it must be approved by the governing body of the county."

SECTION    3.    This act takes effect upon approval by the Governor.