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H. 3982
STATUS INFORMATION
General Bill
Sponsors: Reps. B. Newton, G.M. Smith, Weeks, Huggins, Bradley, Atkinson, Collins, B. Cox, Bannister, J.E. Johnson, Davis, Wheeler, Kirby, West, Brittain, Wetmore, Stavrinakis, Caskey, Gatch, Pendarvis, Hewitt, Bryant, Fry, Rose, Ballentine, Crawford, Jordan, Kimmons, D.C. Moss, Sandifer and J.L. Johnson
Document Path: l:\council\bills\jn\3358vr21.docx
Companion/Similar bill(s): 539
Introduced in the House on February 25, 2021
Currently residing in the House Committee on Judiciary
Summary: Cap on title insurance commissions
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/25/2021 House Introduced and read first time (House Journal-page 5)
2/25/2021 House Referred to Committee on Judiciary (House Journal-page 5)
3/3/2021 House Member(s) request name added as sponsor: J.L.Johnson
3/16/2021 House Member(s) request name removed as sponsor: Murphy
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 38-75-1000, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMISSIONS PAID BY A TITLE INSURER, SO AS TO REMOVE THE CAP ON THE COMMISSION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-75-1000 of the 1976 Code is amended to read:
"Section 38-75-1000. A title insurer may not pay a commission, directly or indirectly, of greater than sixty percent on a title insurance policy."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
March 16, 2021 at 1:38 PM