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H. 4674
STATUS INFORMATION
General Bill
Sponsors: Reps. Cato, Scarborough, McLeod and Perry
Document Path: l:\council\bills\dka\3787dw08.doc
Companion/Similar bill(s): 4759
Introduced in the House on February 12, 2008
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Fraternal benefit societies
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/12/2008 House Introduced and read first time HJ-8
2/12/2008 House Referred to Committee on Labor, Commerce and Industry
HJ-9
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 38-38-430, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE GOVERNANCE OF FRATERNAL BENEFIT SOCIETIES BY CHAPTER 38, TITLE 38, SO AS TO PROVIDE THAT CERTAIN ASSOCIATIONS IN WHICH MEMBERS ARE ACTIVE OR RETIRED MILITARY OFFICERS OR ENLISTED PERSONNEL ARE EXEMPTED FROM THE PROVISIONS OF CHAPTER 38; AND TO AMEND SECTION 38-38-730, RELATING TO EXEMPTION FROM THE REGULATION OF CERTAIN ASSOCIATIONS AND SOCIETIES BY THE DEPARTMENT OF INSURANCE, SO AS TO ADD A CERTAIN ASSOCIATION IN WHICH MEMBERS ARE ACTIVE OR RETIRED MILITARY OFFICERS OR ENLISTED PERSONNEL.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-38-430 of the 1976 Code is amended to read:
"Section 38-43-430. Societies and associations described in Section 38-38-730(8) are governed by this chapter and are exempt from all other provisions of the insurance laws of this State, unless expressly designated or specifically made applicable by this chapter."
SECTION 2. Section 38-38-730 of the 1976 Code is amended to read:
"Section 38-38-730. (A) This chapter does not apply to the following:
(1) Associations which limit their memberships to one hazardous occupation.
(2) Similar societies which do not issue insurance certificates.
(3) An association of local lodges of an association.
(4) The ladies' societies or ladies' auxiliaries to such these societies or associations, doing business in this State on May 12, 1947, which provide death benefits not exceeding five hundred dollars to any a person or disability benefits not exceeding three hundred dollars in any one year to any one person, or both.
(5) Any Contracts or reinsurance business on such these plans in this State.
(6) Domestic associations which limit their memberships to the employees of a particular city or town or designated firm, business, house, or corporation.
(7) Domestic lodges, orders, or associations of a purely religious, charitable, and benevolent description which do not provide for a death benefit of more than one hundred dollars or for disability benefits of more than one hundred fifty dollars to any one person in any one year.
(8) An association, whether a fraternal benefit society or not, which was organized before 1880 and whose members are officers or enlisted, regular or reserve, active, retired, or honorably discharged members of the Armed Forces or Sea Services of the United States, and a principal purpose of which is to provide insurance and other benefits to its members and their dependents or beneficiaries.
(B) The director or his designee may require from any a society or an association, by examination or otherwise, information that will enable the director or his designee to determine whether the society or association is exempt from the provisions of this chapter."
SECTION 3. This act takes effect upon approval by the Governor.
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