Bill 1362

                    Current Status

Introducing Body:               Senate
Bill Number:                    1362
Ratification Number:            555
Act Number:                     460
Primary Sponsor:                Committee (02)
Type of Legislation:            GB
Subject:                        Workers' compensation,
                                self-insurance fund
Companion Bill Number:          1245
Date Bill Passed both Bodies:   Jun 02, 1992
Computer Document Number:       NO5/8143.BD
Governor's Action:              S
Date of Governor's Action:      Jun 15, 1992
Introduced Date:                Mar 04, 1992
Date of Last Amendment:         May 27, 1992
Last History Body:              ------
Last History Date:              Jun 15, 1992
Last History Type:              Act No. 460
Scope of Legislation:           Statewide
Sponsor Committee:              Banking and Insurance
Sponsor Committee Number:       02
Type of Legislation:            General Bill

 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 1362  ------  Jun 15, 1992  Act No. 460
 1362  ------  Jun 15, 1992  Signed by Governor
 1362  ------  Jun 04, 1992  Ratified R 555
 1362  Senate  Jun 02, 1992  Concurred in House amendment,
                             enrolled for ratification
 1362  House   May 28, 1992  Read third time, returned to
                             Senate with amendment
 1362  House   May 27, 1992  Amended, read second time
 1362  House   May 19, 1992  Committee Report: Favorable     26
                             with amendment
 1362  House   Mar 09, 1992  Introduced, read first time,    26
                             referred to Committee
 1362  Senate  Mar 06, 1992  Read third time, sent to House
 1362  Senate  Mar 05, 1992  Read second time, unanimous
                             consent for third reading on
                             Friday, March 6, 1992
 1362  Senate  Mar 04, 1992  Introduced, read first time,
                             placed on Calendar without
                             reference

(A460, R555, S1362)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 42-5-25 SO AS TO PROVIDE TEMPORARY WORKERS' COMPENSATION COVERAGE FOR AN APPLICANT TO AN APPROVED SELF-INSURANCE FUND.

Be it enacted by the General Assembly of the State of South Carolina:

Temporary workers' compensation coverage for an applicant to an approved self-insurance fund

SECTION 1. The 1976 Code is amended by adding:

"Section 42-5-25. (A) An approved self-insurance fund may provide temporary coverage for an applicant if he:

(1) submits to the self-insurance division the required completed and signed forms, including, but not limited to, an application form with the same fee required for permanent membership in a self-insurance fund;

(2) qualifies for membership in the fund;

(3) qualifies under the by-laws of the fund;

(4) operates a business similar in nature to the businesses in the fund;

(5) is financially sound and meets or exceeds the minimum net worth requirements established for permanent membership in a self-insurance fund;

(6) notifies the division in writing on or before the coverage date.

(B) Upon receipt and review of the documents described in subsection (A), the division shall notify the fund within two business days whether temporary membership is granted. If the division does not notify the fund of its decision within two business days, temporary membership is deemed granted.

(C) Temporary coverage expires when the full commission approves the applicant or thirty days after the full commission rejects the applicant. The effective date on the certificate for self-insurance must show the original, temporary, coverage date."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 15th day of June, 1992.