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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 25-1-95 SO AS TO PROVIDE THAT BEGINNING JANUARY 1, 2006, GROUP TERM LIFE INSURANCE COVERAGE IN THE AMOUNT OF TWO HUNDRED FIFTY THOUSAND DOLLARS MUST BE PROVIDED FOR EACH ACTIVE MEMBER OF THE SOUTH CAROLINA NATIONAL GUARD AT NO COST TO THE MEMBER OF THE GUARD, AND TO PROVIDE THAT PREMIUMS FOR THIS POLICY MUST BE PAID FROM THE INSURANCE RESERVE FUND.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 1, Title 25 of the 1976 Code is amended by adding:
"Section 25-1-95. Beginning January 1, 2006, group term life insurance coverage in the amount of two hundred fifty thousand dollars must be provided for each active member of the South Carolina National Guard at no cost to the member of the guard. Premiums for this coverage must be paid from the Insurance Reserve Fund."
SECTION 2. This act takes effect upon approval by the Governor.
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