Scroll to History Page
Scroll to Previous Versions Links List
Scroll to Full Text
Download This Bill in Microsoft Word format
Current Status Bill Number:View additional legislative information at the LPITS web site.
529Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20010403Primary Sponsor: McConnellAll Sponsors: McConnellDrafted Document Number: l:\s-jud\bills\mcconnell\jud0071.gfm.docResiding Body: SenateCurrent Committee: Banking and Insurance Committee 02 SBISubject: Reinsurance Facility, recoupment charges, insured with no merit rating points not to be surcharged for losses; InsuranceHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20010403 Introduced, read first time, 02 SBI referred to Committee Versions of This Bill
TO AMEND THE, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-77-640, RELATING TO RECOUPMENT CHARGES, SO AS TO PROVIDE THAT BEGINNING MARCH 1, 2002, NO INSURED WITHOUT ANY INSURANCE MERIT RATING POINTS ON MARCH 1, 19999, SHALL BE SURCHARGED FOR THE RECOUPMENT OF ANY FACILITY ASSESSMENTS OR LOSSES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 38-77-640. Pursuant to the plan of operation related to the South Carolina Reinsurance Facility as outlined in Section 38-77-530, beginning on March 1, 2002, and continuing thereafter, no insured or policyholder without any insurance merit rating points on March 1, 1999, pursuant to the Uniform Merit Rating Plan in effect on March 1, 1999, shall be surcharged for the recoupment of any facility assessments or losses, such that a clean or nonpointed risk shall not pay any form of recoupment seeking to recoup facility losses. Beginning on March 1, 2002, and continuing until the Department of Insurance determines it is no longer necessary, a premium surcharge on liability premium must be imposed pursuant to a plan promulgated by the Director using driving records as of March 1, 1999."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Tuesday, December 8, 2009 at 11:12 A.M.