Current StatusView additional legislative information at the LPITS web site.Bill Number: 639 Ratification Number: 422 Act Number 393 Introducing Body: Senate Subject: Counties where association may do business
(A393, R422, S639)
AN ACT TO AMEND ACT 462 OF 1893, AS AMENDED, RELATING TO THE FARMER'S MUTUAL INSURANCE ASSOCIATION OF NEWBERRY, SOUTH CAROLINA, SO AS TO EXPAND THE COUNTIES IN WHICH THE ASSOCIATION IS AUTHORIZED TO DO BUSINESS.
Be it enacted by the General Assembly of the State of South Carolina:
Counties where association may do business
SECTION 1. Section 2 of Act 462 of 1893, as last amended by Act 1617 of 1968, is further amended to read:
"Section 2. The corporation shall have the right to mutually insure the respective dwelling houses, barns, and other buildings and property of every kind and nature of its members, in Newberry County, in counties contiguous thereto, and in any other county in this State where another county mutual insurance association is not authorized to do business by law against loss by fire, winds, or lightning, or other casualty, and to write all forms of property, casualty, and marine insurance as those terms are defined by law, all upon those terms and under those conditions as may be fixed by the bylaws of the corporation provided that all insurance against liability of the insured to other persons must be fully reinsured by the corporation in or with one or more insurance companies licensed to insure these risks under the laws of this State. It may sue and be sued in any court in this State and may have and use a common seal."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.