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The Senate assembled at 11:00 A.M., the hour to which it stood adjourned and was called to order by the ACTING PRESIDENT, Senator SETZLER.

The following Bills were read the third time and having received three readings in both Houses, it was ordered that the titles thereof be changed to that of Acts and same enrolled for Ratification:

H. 3240 -- Reps. Boan and McElveen: A BILL TO AMEND SECTION 38-31-80, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DUTIES AND POWERS OF THE CHIEF INSURANCE COMMISSIONER, SO AS TO PROVIDE ADDITIONAL POWERS PERTAINING TO MAXIMUM ASSESSMENTS ON ACCOUNTS OF PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION MEMBERS AND TO INSURANCE EMERGENCIES OR CATASTROPHES.

(By prior motion of Senator SALEEBY, with unanimous consent

The following House Bill was read the third time, passed and ordered returned to the House with amendment:

H. 3508 -- Labor, Commerce and Industry Committee: A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS 38-9-200, 38-9-210, AND 38-9-220 SO AS TO PROVIDE REINSURANCE CREDITS AND LIABILITY REDUCTIONS ALLOWED FOR DOMESTIC CEDED INSURERS AND DEFINE TERMS; TO AMEND THE 1976 CODE BY ADDING SECTION 38-21-125 SO AS TO PROVIDE FOR ACQUISITIONS OF INSURERS NOT COVERED BY THE INSURANCE HOLDING COMPANY REGULATORY ACT; TO AMEND THE 1976 CODE BY ADDING CHAPTER 26 TO TITLE 38 SO AS TO PROVIDE FOR THE ADMINISTRATIVE SUPERVISION OF INSURERS ACT; TO AMEND THE 1976 CODE BY ADDING SECTION 38-27-100 SO AS TO PROVIDE FOR THE CONDUCT OF INSURANCE PROCEEDINGS BEGUN BEFORE THE EFFECTIVE DATE OF THE INSURERS SUPERVISION, REHABILITATION, AND LIQUIDATION ACT; TO AMEND THE 1976 CODE BY ADDING SECTION 38-27-110 SO AS TO PROVIDE FOR PAYMENTS TO A GUARANTY ASSOCIATION WHEN AN INSURER IS SUBJECT TO A DELINQUENCY PROCEEDING; TO AMEND SECTION 38-5-120, RELATING TO THE REVOCATION AND SUSPENSION OF INSURANCE CERTIFICATES OF AUTHORITY, SO AS TO PROVIDE STANDARDS FOR DETERMINING HAZARDOUS INSURANCE PROCEEDINGS AND AUTHORIZE THE CHIEF INSURANCE COMMISSIONER TO TAKE ACTION WHEN AN INSURER IS IN AN UNSOUND OR A HAZARDOUS CONDITION; TO AMEND SECTION 38-9-10, RELATING TO CAPITAL AND SURPLUS OF STOCK INSURERS, SO AS TO INCREASE THE REQUIRED AMOUNTS, AUTHORIZE THE CHIEF INSURANCE COMMISSIONER TO REQUIRE ADDITIONAL INITIAL CAPITAL AND SURPLUS, AND PROVIDE FOR THE INITIAL CAPITAL AND SURPLUS; TO AMEND SECTION 38-9-20, RELATING TO SURPLUS OF MUTUAL INSURERS, SO AS TO INCREASE THE REQUIRED AMOUNTS, AUTHORIZE THE COMMISSIONER TO REQUIRE ADDITIONAL INITIAL SURPLUS, AND PROVIDE FOR INITIAL SURPLUS; TO AMEND SECTION 38-9-30, RELATING TO CAPITAL AND SURPLUS OF INSURERS LICENSED ON JULY 1, 1988, SO AS TO CHANGE THE DATE TO JULY 1, 1991, CHANGE RELATED DATES DETERMINING APPLICATION OF THE SECTION, AND PROVIDE REQUIREMENTS FOR AN INSURER WHICH IS THE SUBJECT OF A CHANGE OF CONTROL; TO AMEND SECTION 38-9-170, RELATING TO UNEARNED PREMIUM RESERVES OF INSURERS, SO AS TO REVISE THE CIRCUMSTANCES UNDER WHICH DEDUCTIONS MAY BE MADE FROM RESERVES; TO AMEND SECTION 38-9-190, RELATING TO LOSS AND CLAIM RESERVES OF INSURERS, SO AS TO REVISE THE CIRCUMSTANCES UNDER WHICH CREDIT FOR REINSURANCE IS ALLOWED AS AN ASSET OR A DEDUCTION FROM RESERVES; TO AMEND SECTION 38-11-10, RELATING TO LEGISLATIVE INTENT PERTAINING TO INVESTMENTS BY INSURERS, SO AS TO ESTABLISH STANDARDS FOR THE DEVELOPMENT AND ADMINISTRATION OF INVESTMENTS; TO AMEND SECTION 38-11-50, RELATING TO LIMITATIONS ON THE INVESTMENTS, SO AS TO PROVIDE FOR THE VALUATION OF INVESTMENTS AND PROMULGATION OF RELATED REGULATIONS; TO AMEND SECTION 38-21-90, RELATING TO THE INSURANCE COMMISSIONER'S APPROVAL OF AN ACQUISITION OF CONTROL OF AN INSURER, SO AS TO PROVIDE FOR APPLICATION OF THE COMPETITIVE STANDARD; TO AMEND SECTION 38-21-140, RELATING TO THE CONTENT OF INSURANCE REGISTRATION STATEMENTS, SO AS TO INCLUDE A PLEDGE OF THE INSURER'S STOCK FOR A LOAN MADE TO A MEMBER OF THE INSURANCE HOLDING COMPANY SYSTEM; TO AMEND SECTION 38-21-270, RELATING TO NOTICE AND APPROVAL OF EXTRAORDINARY DIVIDENDS AND DISTRIBUTIONS BY INSURERS, SO AS TO REVISE THE DETERMINATION OF AN EXTRAORDINARY DIVIDEND AND DISTRIBUTION; TO AMEND SECTION 38-27-10, RELATING TO THE CITE FOR THE "INSURERS SUPERVISION, REHABILITATION, AND LIQUIDATION ACT", SO AS TO DELETE "SUPERVISION"; TO AMEND SECTION 38-27-40, RELATING TO APPLICATION OF THE ACT, SO AS TO ADD PREPAID HEALTH CARE DELIVERY PLANS; TO AMEND SECTIONS 38-27-50, 38-27-230, AND 38-27-310, RELATING TO DEFINITIONS, HEARINGS, AND REHABILITATION UNDER THE ACT, SO AS TO DELETE THE REFERENCES TO "VALID" AS IT APPLIES TO "ORDER" AND SECTION 38-27-210, INSURANCE COMMISSIONER'S ORDERS AND SUPERVISION; TO AMEND SECTION 38-27-370, RELATING TO ORDERS TO LIQUIDATE AN INSURER, SO AS TO PROVIDE FOR A PLAN FOR THE CONTINUED PERFORMANCE OF A DEFENDANT COMPANY'S POLICY CLAIMS OBLIGATIONS DURING THE PENDENCY OF AN APPEAL; TO AMEND SECTION 38-27-400, RELATING TO THE POWERS OF A LIQUIDATOR, SO AS TO AUTHORIZE THE AUDIT OF THE BOOKS AND RECORDS OF AGENTS OF THE INSURER AND PROVIDE THAT A LIQUIDATOR IS NOT OBLIGATED TO DEFEND OR CONTINUE TO DEFEND CLAIMS AFTER THE ENTRY OF A LIQUIDATION ORDER; TO AMEND SECTION 38-27-610, RELATING TO THE PRIORITY OF DISTRIBUTION OF CLAIMS FROM AN INSURER'S ESTATE, SO AS TO INCLUDE IN CLASS 3 CLAIMS OF FEDERAL, STATE, AND LOCAL GOVERNMENTS FOR LOSSES INCURRED, "LOSS CLAIMS", AND EXCLUDE THOSE CLAIMS FROM CLASS 5; TO AMEND SECTION 38-27-950, RELATING TO PROCEEDINGS INSTITUTED BY THE INSURANCE COMMISSIONER, SO AS TO DELETE THE REFERENCE TO SECTION 38-27-210, ORDERS AND SUPERVISION; TO AMEND SECTION 38-33-100, RELATING TO CERTIFICATES OF AUTHORITY FOR HEALTH MAINTENANCE ORGANIZATIONS, SO AS TO INCREASE THE NET WORTH REQUIREMENTS, PROVIDE REQUIREMENTS FOR A STOCK HEALTH MAINTENANCE ORGANIZATION, AND PROVIDE FOR ORGANIZATIONS IN COMPLIANCE WITH THE LAW ON DECEMBER 31, 1990; TO AMEND SECTION 38-55-30, RELATING TO LIMITATION OF RISK BY INSURERS, SO AS TO APPLY THE LIMITATION TO CAPTIVES AND DEFINE THE TERM; TO AMEND SECTION 38-87-40, RELATING TO OUT-OF-STATE CHARTERED RISK RETENTION GROUPS, SO AS TO PROVIDE FOR THE EXAMINATION REGARDING FINANCIAL CONDITION TO BE CONDUCTED IN ACCORDANCE WITH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS' EXAMINER'S HANDBOOK INSTEAD OF THE STANDARDS AND PROCEDURES APPLICABLE TO EXAMINATIONS OF ADMITTED INSURERS; TO AMEND SECTION 38-87-90, RELATING TO THE PURCHASE OF LIABILITY INSURANCE FROM A NONSTATE APPROVED SURPLUS LINES INSURER, SO AS TO PROVIDE THE CONDITIONS UNDER WHICH INSURANCE MAY BE PURCHASED FROM A RISK RETENTION GROUP NOT CHARTERED OR AN INSURER NOT ADMITTED IN THE STATE; AND TO REPEAL SECTION 38-27-210 RELATING TO THE INSURANCE COMMISSIONER'S ORDERS AND SUPERVISION.

(By prior motion of Senator SALEEBY, with unanimous consent)

H. 3507 -- Rep. J. Bailey: A BILL TO REENACT SECTION 38-73-470, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DISPOSITION OF UNINSURED MOTORIST PREMIUM; AND TO REPEAL SECTION 56 OF ACT 148 OF 1989 RELATING TO THE REPEAL OF SECTION 38-73-470.

(By prior motion of Senator SALEEBY, with unanimous consent)

The following Bills were severally read the third time, passed and ordered sent to the House of Representatives:

S. 569 -- Senator Drummond: A BILL TO AMEND SECTION 54-15-60, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE COMMISSIONERS OF PILOTAGE FOR THE PORT OF CHARLESTON, SO AS TO DELETE THE REQUIREMENT FOR RECOMMENDATION BY A MAJORITY OF THE LICENSED PILOTS; TO AMEND SECTION 54-15-100, RELATING TO APPRENTICES FOR THE PORT, SO AS TO DELETE THE AGE LIMITATION FOR APPRENTICES OVER TWENTY-EIGHT YEARS OF AGE; TO AMEND SECTION 54-15-120, RELATING TO THE REQUIREMENTS FOR LICENSING PILOTS IN THE PORT, SO AS TO AUTHORIZE THE CONSIDERATION OF PREVIOUS MARITIME EXPERIENCE, REVISE THE LIMITATION OF THE NUMBER OF LICENSES GRANTED THROUGH REGULATIONS, AND PROVIDE FOR EMERGENCY AND TEMPORARY LICENSES; TO AMEND SECTION 54-15-130, RELATING TO THE LIMITATION OF THE NUMBER OF LICENSED PILOTS, SO AS TO REVISE THE LIMITATION THROUGH REGULATION; TO REPEAL SECTION 54-15-180 RELATING TO THE COMMISSION AND USE OF PILOT BOATS FOR PILOTAGE; TO REPEAL SECTION 54-15-200 RELATING TO THE RESTRICTIONS ON OTHER BUSINESSES OF A PILOT; AND TO REAUTHORIZE THE EXISTENCE OF THE COMMISSIONERS OF PILOTAGE FOR THE PORT FOR SIX YEARS.

(By prior motion of Senator DRUMMOND, with unanimous consent)

S. 22 -- Senator Passailaigue: A BILL TO AMEND SECTION 40-1-180, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE QUALIFICATIONS OF CERTIFIED PUBLIC ACCOUNTANTS, SO AS TO REVISE THE EDUCATIONAL REQUIREMENTS; AND SECTION 40-1-240, RELATING TO THE WAIVER OF THE EXAMINATION FOR ACCOUNTANTS AND THE REQUIREMENTS FOR NONRESIDENTS, SO AS TO REVISE THE CIRCUMSTANCES UNDER WHICH A WAIVER IS ALLOWED.

(By prior motion of Senator PASSAILAIGUE, with unanimous consent)

At 11:32 A.M., on motion of Senator LOURIE, the Senate adjourned to meet next Tuesday at 12:00 Noon.

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