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Bill Number: 2243 Ratification Number: 481 Act Number 412 Introducing Body: House Subject: Designation of automobile insurance marketing outlets
(A412, R481, H2243)
AN ACT TO AMEND SECTION 38-37-150, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DESIGNATION OF PRODUCERS TO SERVICE INSUFFICIENT AUTOMOBILE INSURANCE MARKETING OUTLETS, SO AS TO ALLOW THE DESIGNATION OF A PRODUCER TO BE TRANSFERABLE TO A SPOUSE, CHILD, PARENT, BROTHER OR SISTER UPON THE PRODUCER'S DEATH, RETIREMENT OR INCAPACITY.
Be it enacted by the General Assembly of the State of South Carolina:
Designation of automobile insurance marketing outlets
Section 1. Section 38-37-150 of the 1976 Code is amended by adding at the end: "The designation of a producer by the Commissioner shall be transferable to a qualified spouse, child, parent, brother or sister of such producer upon the designated producer's death, retirement or incapacity." The section when amended shall read:
"Section 38-37-150. Not more than six months after July 9, 1974, or at such earlier time as he deems it necessary by reason of complaints regarding want of access to automobile insurance in particular areas or want of outlets for producers, the Commissioner shall survey the various areas of the State to ascertain if sufficient marketing outlets exist in all areas or are available to all producers; and upon his finding that insufficient marketing outlets exist in particular areas or that certain producers have been deprived of a market for risks previously serviced by them, the Commissioner may, after consultation with the Facility, designate one or more insurers to service such areas through agents appointed by them or may designate such producers as the agents of any such insurer or insurers. Such arrangements shall include provision for one hundred percent quota share reinsurance through the Facility of any automobile insurance policy marketed through such arrangements, at the option of the insurer, and any such reinsurance shall not be subject to the statutory provisions of rules and regulations regarding excessive utilization of the facility. The designation of a producer by the Commissioner shall be
transferable to a qualified spouse, child, parent, brother or sister of
such producer upon the designated producer's death, retirement or
Section 2. This act shall take effect upon approval by the