South Carolina General Assembly
110th Session, 1993-1994

Bill 4009


Indicates Matter Stricken
Indicates New Matter


                    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



History


Bill  Body    Date          Action Description              CMN  Leg Involved
____  ______  ____________  ______________________________  ___  ____________

4009  House   19930414      Introduced, read first time,    26
                            referred to Committee

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

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.

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