read Read

e-mail E-mailprint Print

2004 Summary of New State Laws - South Carolina

Issue

Bill #

Bill Description

Building Codes

SB 897

Provides that changes to the state building code by the South Carolina Building Code Council will be considered incorporated into the state building code and do not require readoption in future code cycles.

Captives (and Producer Licensure)

HB 5002

Provides for confidentiality of information submitted by Captive insurers and changes other provisions of the laws regulating Captive insurers. (Amends laws governing producer licensure requirements to provide certain individuals with licensing examination exemptions.)

Mold

SB 949

Specifies that no cause of action may be brought against a real estate licensee acting as a seller's or buyer's agent, or advising an individual outside an agency relationship, who has truthfully disclosed to the seller, buyer or customer, respectively, any known material defects. Effective 1/1/05. Act 218, Laws of 2004.

Motor Vehicle Insurance

(Proof of Coverage)

HB 4805

Revises the minimum amount of property damage that must occur before the operator of a motor vehicle involved in an accident must provide verification of insurance coverage.

(DUI)

HB 4801

Extends restricted driver's license provisions to persons who have had licenses suspended for failure to submit to blood alcohol testing or for registering a certain level of blood alcohol.

Premium Tax

SB 516

Amends the definition of 'new job' as it relates to the job tax credit allowed against premium tax obligations and amends the law governing paid-in capital surplus. Various Effective Dates - please refer to the complete text. Act 168, Laws of 2004.

Rate Regulation

SB 686

Would deregulate personal lines rates. Sent to the Governor 6/3/04. Effective upon Governor's approval. Article 2 of Chapter 73 of Title 38 of the Code of Laws of South Carolina.

Rate Regulation

SB 891

Amends laws governing insurance rates for all lines of casualty coverage. Effective upon Governor's approval.

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.

South Carolina State Resource Center