SC H4832 | 2021-2022 | 124th General Assembly
Status
Completed Legislative Action
Sponsorship: Bipartisan Bill
Status: Passed on May 31 2022 - 100% progression
Action: 2022-05-31 - Act No. 195
Text: Latest bill text (Comm Sub) [HTML]
Sponsorship: Bipartisan Bill
Status: Passed on May 31 2022 - 100% progression
Action: 2022-05-31 - Act No. 195
Text: Latest bill text (Comm Sub) [HTML]
Summary
Amend The Code Of Laws Of South Carolina, 1976, By Adding Section 38-69-247 So As To Establish Minimum Nonforfeiture Amounts For Contracts Issued After June 30, 2022; By Adding Section 38-72-78 So As To Require Long-term Care Insurers To Provide Notice Of Proposed Premium Rate Increases To Policyholders; To Amend Section 38-9-180, Relating To Standard Valuation Law, So As To Remove A Requirement; To Amend Section 38-9-210, As Amended, Relating To The Reduction From Liability For Reinsurance, So As To Correct The Name Of The Appropriate Office Of The National Association Of Insurance Commissioners; To Amend Section 38-13-80, Relating To The Annual Statement As To Business Standing And Financial Condition, So As To Provide The Time And Manner That The Statement Of Business Standing And Financial Condition Must Be Filed; To Amend Section 38-13-85, Relating To The Filing Of Annual Statements, So As To Provide The Time And Manner That The Annual Statements Are Filed; To Amend Section 38-57-150, As Amended, Relating To Prohibited Inducements, So As To Allow An Employee, Affiliate, Or Third Party Of An Insurer To Offer An Insured Services Relating To The Loss Control Of The Covered Risk; To Amend Section 38-73-240, Relating To Rate Filings, So As To Clarify Where An Insurer May File A Multiplier; To Amend Section 38-73-910, As Amended, Relating To The Application Of The Section, So As To Establish That Rate, Rule, And Form Filings Submitted By A Rating Organization Are Subject To Prior Approval Of The Department Of Insurance; To Amend Section 38-79-200, As Amended, Relating To Rate Increase Or Assessment Authorization, So As To Include A Reference; To Amend Sections 38-101-20, 38-101-30, 38-101-40, And 38-101-110, All Relating To The Issuance Of Flood Insurance Policies, All So As To Require A Peril Of Flood To Be Named; To Amend Section 38-101-120, Relating To The Written Notice Of Cancellation Or Nonrenewal, So As To Clarify The Required Notice Period; And To Repeal Chapter 95 Of Title 38 Relating To The Interstate Insurance Product Regulation Compact. - Ratified Title
Title
Insurance
Sponsors
Roll Calls
2022-05-05 - Senate - Senate: 2nd Reading (Y: 37 N: 0 NV: 0 Abs: 7) [PASS]
2022-02-01 - House - House: Passage Of Bill (Y: 95 N: 0 NV: 20 Abs: 6) [PASS]
2022-02-01 - House - House: Passage Of Bill (Y: 95 N: 0 NV: 20 Abs: 6) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-05-31 | Act No. 195 | |
| 2022-05-31 | Effective date 05/16/22 | |
| 2022-05-16 | Signed By Governor | |
| 2022-05-12 | Ratified R 220 | |
| 2022-05-10 | Senate | Read third time and enrolled |
| 2022-05-05 | Senate | Roll call Ayes-37 Nays-0 |
| 2022-05-05 | Senate | Read second time |
| 2022-02-24 | Scrivener's error corrected | |
| 2022-02-23 | Senate | Committee report: Favorable Banking and Insurance |
| 2022-02-02 | Senate | Referred to Committee on Banking and Insurance |
| 2022-02-02 | Senate | Introduced and read first time |
| 2022-02-02 | House | Read third time and sent to Senate |
| 2022-02-01 | House | Roll call Yeas-95 Nays-0 |
| 2022-02-01 | House | Read second time |
| 2022-02-01 | Scrivener's error corrected | |
| 2022-01-27 | House | Committee report: Favorable Labor, Commerce and Industry |
| 2022-01-26 | Scrivener's error corrected | |
| 2022-01-25 | House | Member(s) request name added as sponsor: Anderson |
| 2022-01-20 | House | Referred to Committee on Labor, Commerce and Industry |
| 2022-01-20 | House | Introduced and read first time |
Same As/Similar To
S0981 (Similar To) 2022-01-12 - Referred to Committee on Banking and Insurance
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 38 | 101 | 110 | (n/a) | See Bill Text |
| 38 | 101 | 120 | (n/a) | See Bill Text |
| 38 | 101 | 20 | (n/a) | See Bill Text |
| 38 | 101 | 30 | (n/a) | See Bill Text |
| 38 | 101 | 40 | (n/a) | See Bill Text |
| 38 | 13 | 80 | (n/a) | See Bill Text |
| 38 | 13 | 85 | (n/a) | See Bill Text |
| 38 | 57 | 150 | (n/a) | See Bill Text |
| 38 | 69 | 247 | (n/a) | See Bill Text |
| 38 | 72 | 78 | (n/a) | See Bill Text |
| 38 | 73 | 240 | (n/a) | See Bill Text |
| 38 | 73 | 910 | (n/a) | See Bill Text |
| 38 | 79 | 200 | (n/a) | See Bill Text |
| 38 | 9 | 180 | (n/a) | See Bill Text |
| 38 | 9 | 210 | (n/a) | See Bill Text |
