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TO AMEND SECTION 38-75-730, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO RESTRICTIONS ON THE CANCELLATION OF PROPERTY INSURANCE POLICIES, SO AS TO APPLY CANCELLATION RESTRICTIONS TO POLICIES IN EFFECT FOR MORE THAN SIXTY DAYS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-75-730(c) of the 1976 Code is amended to read:
"(c) Subsections (a) and (b) do not apply to any insurance policy which has been in effect for less than one hundred twenty sixty days and is not a renewal of a previously existing policy. The policy may be canceled for any reason by furnishing to the insured at least thirty days' written notice of cancellation, except where the reason for cancellation is nonpayment of premium, in which case not less than ten days' written notice must be furnished."
SECTION 2. The repeal or amendment by this act of any law, whether temporary or permanent or civil or criminal, does not affect pending actions, rights, duties, or liabilities founded thereon, or alter, discharge, release or extinguish any penalty, forfeiture, or liability incurred under the repealed or amended law, unless the repealed or amended provision shall so expressly provide. After the effective date of this act, all laws repealed or amended by this act must be taken and treated as remaining in full force and effect for the purpose of sustaining any pending or vested right, civil action, special proceeding, criminal prosecution, or appeal existing as of the effective date of this act, and for the enforcement of rights, duties, penalties, forfeitures, and liabilities as they stood under the repealed or amended laws.
SECTION 3. This act takes effect upon approval by the Governor.
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