South Carolina General Assembly
117th Session, 2007-2008

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Indicates Matter Stricken
Indicates New Matter

H. 3173

STATUS INFORMATION

General Bill
Sponsors: Reps. Limehouse and Viers
Document Path: l:\council\bills\nbd\11047ssp07.doc

Introduced in the House on January 9, 2007
Currently residing in the House Committee on Labor, Commerce and Industry

Summary: Banks and financial institutions

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/20/2006  House   Prefiled
  12/20/2006  House   Referred to Committee on Labor, Commerce and Industry
    1/9/2007  House   Introduced and read first time HJ-96
    1/9/2007  House   Referred to Committee on Labor, Commerce and Industry 
                        HJ-96
   2/15/2007  House   Member(s) request name added as sponsor: Viers

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/20/2006

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

A BILL

TO AMEND SECTION 38-39-10, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSURANCE PREMIUM SERVICE COMPANIES, SO AS TO ALLOW BANKS AND OTHER SPECIFIED FINANCIAL INSTITUTIONS TO ENGAGE IN THE BUSINESS OF SERVICING INSURANCE PREMIUMS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 38-39-10 of the 1976 Code is amended to read:

"Section 38-39-10.    This chapter does not apply to:

(a)    an insurer authorized to do business in this State;

(b)    a banking institution, savings and loan association, cooperative credit union, consumer finance company provided for in Sections 34-29-10 to 34-29-260 authorized to do business in this State, or a supervised lender provided for in Title 37 authorized to do business in this State;

(c)    the inclusion of a charge for insurance in connection with an installment sale of goods or services;

(dc)    the advancing of premiums by insurance agents and producers of record under Article 3 of Chapter 43 of this title."

SECTION    2.    This act takes effect upon approval by the Governor.

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