Current Status Introducing Body:House Bill Number:4009 Primary Sponsor:McLeod Committee Number:26 Type of Legislation:GB Subject:Uniform method for vehicle insurance Residing Body:House Current Committee:Labor, Commerce and Industry Computer Document Number:BBM/9062JM.93 Introduced Date:19930414 Last History Body:House Last History Date:19930414 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:McLeod Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved ____ ______ ____________ ______________________________ ___ ____________ 4009 House 19930414 Introduced, read first time, 26 referred to CommitteeView additional legislative information at the LPITS web site.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-77-370 SO AS TO PROVIDE A UNIFORM METHOD OF VALUATION BY AN INSURER FOR A TOTALED MOTOR VEHICLE INVOLVED IN AN ACCIDENT WHEN A LIABILITY CLAIM IS MADE BY THE VEHICLE'S OWNER WHO WAS NOT AT FAULT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 38-77-370. In the event of any motor vehicle accident in which a motor vehicle is considered totally damaged beyond reasonable repair and a liability claim is made therefor by such vehicle's owner who was not at fault in the accident, the insurer shall use the National Automobile Dealers Association (NADA) Book value in evaluating the damage rendered such vehicle so that the maximum possible value for such vehicle shall be allowed and paid to the vehicle's owner. The insurer may make the appropriate deduction, if applicable, which may be subtracted from the base value of the vehicle, for excess mileage following the guidelines of the NADA, but the insurer is prohibited from deducting a reconditioning fee from the value of the totaled vehicle. For the purposes of this section, `excess mileage' means the number of miles exceeding standard or average mileage."
SECTION 2. This act takes effect upon approval by the Governor.