Current Status Introducing Body:House Bill Number:3405 Primary Sponsor:Committee (26) Committee Number:02 Type of Legislation:JR Subject:Accident and health insurance, regulations approved Residing Body:Senate Current Committee:Banking and Insurance Computer Document Number:3405 Introduced Date:Jan 31, 1991 Last History Body:Senate Last History Date:Feb 12, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide Sponsor Committee:Labor, Commerce and Industry Sponsor Committee Number:26 Type of Legislation:Joint Resolution
Bill Body Date Action Description CMN
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3405 Senate Feb 12, 1991 Introduced, read first time, 02
referred to Committee
3405 House Feb 07, 1991 Read third time, sent to
Senate
3405 House Feb 05, 1991 Read second time
3405 House Jan 31, 1991 Introduced, read first time
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INTRODUCED
January 31, 1991
H. 3405
Introduced by Labor, Commerce and Industry Committee
S. Printed 1/31/91--H.
Read the first time January 31, 1991.
TO APPROVE REGULATIONS OF THE INSURANCE DEPARTMENT, RELATING TO MINIMUM RESERVE STANDARDS FOR INDIVIDUAL AND GROUP ACCIDENT AND HEALTH INSURANCE CONTRACTS, DESIGNATED AS REGULATION DOCUMENT NUMBER 1260, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The regulations of the Insurance Department, relating to Minimum Reserve Standards for Individual and Group Accident and Health Insurance Contracts, designated as Regulation Document Number 1260, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
The department proposes to replace existing Regulations 69-7 and 69-7.1 with one new Regulation 69-7 which will establish minimum reserve standards for individual and group accident and health insurance contracts. The new minimum reserve standards established will be those most recently adopted by the National Association of Insurance Commissioners.