Current Status Introducing Body:Senate Bill Number:502 Primary Sponsor:Saleeby Committee Number:02 Type of Legislation:GB Subject:Insurance assessment collections Residing Body:Senate Current Committee:Banking and Insurance Companion Bill Number:3318 Computer Document Number:BR1/1121.AC Introduced Date:Jan 17, 1991 Last History Body:Senate Last History Date:Jan 17, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Saleeby Land McConnell Mullinax Pope Type of Legislation:General Bill
Bill Body Date Action Description CMN
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502 Senate Jan 17, 1991 Introduced, read first time, 02
referred to Committee
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TO AMEND ACT 127 OF 1989, RELATING TO THE SOUTH CAROLINA HEALTH INSURANCE POOL, SO AS TO DESIGNATE A PORTION OF THAT ACT AS SECTION 38-74-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, AND TO PROVIDE THAT THE COLLECTION OF ASSESSMENTS FROM MEMBERS OF THE POOL IS FOR CLAIMS INCURRED OR ESTIMATED TO BE INCURRED UNDER THE PLAN RATHER THAN FOR CLAIMS PAID UNDER THE PLAN.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2 of Act 127 of 1989 is designated as Section 38-74-20 of the 1976 Code.
SECTION 2. Section 38-74-20(3) of the 1976 Code is amended to read:
"(3) establish procedures for the collection of assessments from all members to provide for claims paid incurred or estimated to be incurred under the plan and for administrative expenses incurred or estimated to be incurred during the period for which the assessment is made. The level of payments must be established by the board, pursuant to Section 38-74-50. Assessment occurs at the end of each fiscal year. The board may provide also for interim assessments against members of the pool if necessary to assure the financial capability of the pool. Assessments are due and payable within thirty days of receipt of the assessment notice;".
SECTION 3. This act takes effect upon approval by the Governor.