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TO AMEND SECTION 38-79-130, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE POWERS OF THE SOUTH CAROLINA MEDICAL MALPRACTICE LIABILITY JOINT UNDERWRITING ASSOCIATION TO ISSUE POLICIES OF INSURANCE, SO AS TO AUTHORIZE THE ASSOCIATION TO INCREASE THE LIMITS OF LIABILITY ON POLICIES OF INSURANCE SUBJECT TO LIMITS OF LIABILITY NOT TO EXCEED ONE MILLION DOLLARS FOR EACH CLAIMANT UNDER ONE POLICY AND THREE MILLION DOLLARS FOR ALL CLAIMANTS UNDER ONE POLICY IN ONE YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-79-130 of the 1976 Code is amended to read:
"Section 38-79-130. The association, pursuant to the provisions of this article and the approved plan of operation in respect to medical malpractice insurance, has the power may on behalf of its members to:
(1) issue, or cause to be issued, policies of insurance to applicants including incidental coverages including, but not limited to, premises or operations liability coverage on the premises where services are rendered, all subject to limits of liability as specified in the plan of operation but not to exceed two hundred thousand one million dollars for each claimant under one policy and six hundred thousand three million dollars for all claimants under one policy in any one year;
(2) underwrite medical malpractice insurance and to adjust and pay losses with respect thereto to them or to appoint service companies to perform those functions;
(3) cede and assume reinsurance."
SECTION 2. This act takes effect upon approval by the Governor.
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