Current StatusView additional legislative information at the LPITS web site.Bill Number: 778 Ratification Number: 374 Act Number 317 Introducing Body: Senate Subject: Monetary penalty against an insurer that transacts its business through a nonresident agent
(A317, R374, S778)
AN ACT TO AMEND SECTION 38-51-70, CODE OF LAWS OF SOUTH CAROLINA, 1976, PROVIDING FOR A MONETARY PENALTY AGAINST AN INSURER THAT TRANSACTS ITS BUSINESS THROUGH A NONRESIDENT AGENT.
Be it enacted by the General Assembly of the State of South Carolina:
Repeal
Section 1. Section 38-51-70 of the 1976 Code is repealed.
Time effective
Section 2. This act shall take effect upon the approval by the Governor.