Current Status Introducing Body:House Bill Number:3629 Ratification Number:195 Act Number:129 Primary Sponsor:Koon Type of Legislation:GB Subject:Motor vehicle insurance premiums Date Bill Passed both Bodies:May 27, 1991 Computer Document Number:CYY/18249.SD Governor's Action:S Date of Governor's Action:Jun 05, 1991 Introduced Date:Feb 28, 1991 Date of Last Amendment:Apr 04, 1991 Last History Body:------ Last History Date:Jun 05, 1991 Last History Type:Act No. 129 Scope of Legislation:Statewide All Sponsors:Koon Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
3629 ------ Jun 05, 1991 Act No. 129
3629 ------ Jun 05, 1991 Signed by Governor
3629 ------ May 30, 1991 Ratified R 195
3629 Senate May 27, 1991 Read third time, enrolled for
ratification
3629 Senate May 21, 1991 Read second time, notice of
general amendments
3629 Senate May 16, 1991 Committee Report: Favorable 02
3629 Senate Apr 09, 1991 Introduced, read first time, 02
referred to Committee
3629 House Apr 05, 1991 Read third time, sent to
Senate
3629 House Apr 04, 1991 Unanimous consent for third
reading on next Legislative
day
3629 House Apr 04, 1991 Amended, read second time
3629 House Mar 28, 1991 Committee Report: Favorable 26
with amendment
3629 House Feb 28, 1991 Introduced, read first time, 26
referred to Committee
View additional legislative information at the LPITS web site.
(A129, R195, H3629)
AN ACT TO AMEND SECTION 38-73-1380, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MEMBERS OR SUBSCRIBERS OF RATING ORGANIZATIONS UTILIZING RATES OR PREMIUM CHARGES FOR PRIVATE PASSENGER AUTOMOBILE INSURANCE COVERAGES, SO AS TO PROVIDE THAT THE APPROVAL AND PUBLIC HEARING REQUIREMENTS OF THIS SECTION ARE NOT REQUIRED TO APPROVE AN EXPENSE COMPONENT FILED BY A MEMBER OR SUBSCRIBER FOR ANY LINE OF INSURANCE EXCEPT PRIVATE PASSENGER AUTOMOBILE INSURANCE, UNLESS THAT MEMBER'S OR SUBSCRIBER'S TOTAL WRITTEN PREMIUMS FOR THAT LINE DURING THE PREVIOUS CALENDAR YEAR EQUALED OR EXCEEDED THREE PERCENT OF THE TOTAL WRITTEN INSURANCE PREMIUMS FOR THAT LINE FOR THAT YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
Section not applicable when
SECTION 1. Section 38-73-1380 of the 1976 Code, as added by Act 148 of 1989, is amended to read:
"Section 38-73-1380. After June 30, 1989, no member or subscriber of a rating organization may utilize a rate or premium charge for any private passenger automobile insurance coverage unless and until the final rate or premium charge has been filed and approved by the commissioner. After the effective date of this section, the final rate or premium charge is the pure loss component filed and approved by a rating organization on behalf of its members or subscribers added to the expense component of the rate or premium charge, filed with and approved by the commissioner, by each member or subscriber of a rating organization independently.
No expense component filed by a member or subscriber of a rating organization may be approved by the commissioner unless it has been the subject of a public hearing, if that member's or subscriber's total written private passenger automobile insurance premium during the previous calendar year equaled or exceeded one percent of the total written private passenger automobile insurance premium in this State during the previous calendar year.
For other lines of insurance the requirements of this section are not activated unless the members' or subscribers' total written premium during the previous calendar year equaled or exceeded three percent of the total written insurance premium for that specific line of insurance in this State during the previous calendar year."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 5th day of June, 1991.