Session 120 - (2013-2014)
H*3620 (Rat #0026, Act #0018 of 2013) General Bill, By Sandifer and Gambrell
Similar (S 0462, H 3621)
Summary: Captive insurance company
    AN ACT TO AMEND SECTION 38-90-160, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXEMPTION OF CAPTIVE INSURANCE COMPANIES FROM CERTAIN PROVISIONS OF TITLE 38, SO AS TO PROVIDE AN INDUSTRIAL INSURED CAPTIVE INSURANCE COMPANY IS SUBJECT TO CERTAIN REQUIREMENTS CONCERNING REPORTS FOR RISK-BASED CAPITAL, ACQUISITIONS DISCLOSURE, AND ASSET DISPOSITION, AND CEDED REINSURANCE AGREEMENTS, AND TO PROVIDE THE DIRECTOR OF THE DEPARTMENT OF INSURANCE MAY ELECT NOT TO TAKE REGULATORY ACTION CONCERNING RISK-BASED CAPITAL IN SPECIFIC CIRCUMSTANCES. - ratified title
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02/26/13House Introduced and read first time (House Journal-page 9)
02/26/13House Referred to Committee on Labor, Commerce and Industry (House Journal-page 9)
02/28/13House Committee report: Favorable Labor, Commerce and Industry (House Journal-page 5)
03/06/13House Read second time (House Journal-page 78)
03/06/13House Roll call Yeas-112 Nays-0 (House Journal-page 78)
03/07/13House Read third time and sent to Senate (House Journal-page 24)
03/07/13Senate Introduced and read first time (Senate Journal-page 12)
03/07/13Senate Referred to Committee on Banking and Insurance (Senate Journal-page 12)
03/13/13Senate Committee report: Favorable Banking and Insurance (Senate Journal-page 9)
04/09/13Senate Read second time (Senate Journal-page 17)
04/09/13Senate Roll call Ayes-41 Nays-0 (Senate Journal-page 29)
04/10/13Senate Read third time and enrolled (Senate Journal-page 29)
04/18/13 Ratified R 26
04/23/13 Signed By Governor
04/29/13 Effective date See Act for Effective Date
04/30/13 Act No. 18