South Carolina General Assembly
108th Session, 1989-1990

Bill 1156

                    Current Status

Bill Number:               1156
Ratification Number:       402
Act Number                 364
Introducing Body:          Senate
Subject:                   Original books and records of a domestic
                           insurer; domestic health maintenance
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A364, R402, S1156)

AN ACT TO AMEND SECTION 38-5-80, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADDITIONAL REQUIREMENTS BEFORE A CERTIFICATE OR LICENSE MAY BE GRANTED TO A DOMESTIC INSURER, SO AS TO REQUIRE ALL ORIGINAL BOOKS AND RECORDS OF THE INSURER TO BE LOCATED AND MAINTAINED IN SOUTH CAROLINA AND PROVIDE FOR THE REQUIREMENT TO APPLY TO DOMESTIC HEALTH MAINTENANCE ORGANIZATIONS.

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

Original books and records of a domestic insurer; domestic health maintenance organizations

SECTION 1. Section 38-5-80(k) of the 1976 Code is amended to read:

"(k) The insurer's principal place of business and primary executive, administrative, and home offices and all original books and records of the insurer are located and maintained in this State. The provisions of this subsection apply to domestic health maintenance organizations."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 19th day of March, 1990.