Current Status Bill Number:
3518Ratification Number: 150Act Number: 97Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19950207Primary Sponsor: RichardsonAll Sponsors: RichardsonDrafted Document Number: BBM\9849JM.95Date Bill Passed both Bodies: 19950601Date of Last Amendment: 19950531Governor's Action: SDate of Governor's Action: 19950612Subject: Property and casualty insurance guaranty policies
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19950612 Act No. A97 ------ 19950612 Signed by Governor ------ 19950606 Ratified R150 House 19950601 Concurred in Senate amendment, enrolled for ratification Senate 19950601 Read third time, returned to House with amendment Senate 19950531 Amended, read second time, ordered to third reading with notice of general amendments Senate 19950529 Recalled from Committee, 02 SBI placed on the Calendar Senate 19950501 Introduced, read first time, 02 SBI referred to Committee House 19950427 Read third time, sent to Senate House 19950426 Read second time House 19950419 Committee report: Favorable 26 HLCI House 19950207 Introduced, read first time, 26 HLCI referred to CommitteeView additional legislative information at the LPITS web site.
(A97, R150, H3518)
AN ACT TO AMEND SECTION 38-31-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE "SOUTH CAROLINA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION ACT", SO AS TO CHANGE THE DEFINITION OF "COVERED CLAIM".
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-31-20(6) of the 1976 Code is amended to read:
"(6) `Covered claim' means an unpaid claim, including one of unearned premiums, which arises out of and is within the coverage and is subject to the applicable limits of an insurance policy to which this chapter applies issued by an insurer, if the insurer is an insolvent insurer and (a) the claimant or insured is a resident of this State at the time of the insured event, if for entities other than an individual, the residence of a claimant or insured is the state in which its principal place of business is located at the time of the insured event or (b) the claim is for first-party benefits for damage to property permanently located in this State. `Covered claim' does not include any amount awarded as extra-contractual damages unless awarded against the association; sought as a return of premium under any retrospective rating plan; or due any reinsurer, insurer, insurance pool, or underwriting association as subrogation recoveries or otherwise."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 12th day of June, 1995.