Current Status
BillNumber: 3724
Ratification Number: 588
Act Number: 490
Introducing Body: House
Subject: Cancellation of insurance contracts by premium
service companies
View additional legislative information at the LPITS web site.
(A490, R588, H3724)
AN ACT TO AMEND SECTION 38-27-100, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CANCELLATION OF INSURANCE CONTRACTS BY PREMIUM SERVICE COMPANIES, SO AS TO FURTHER PROVIDE FOR THE TIME WHEN THE NOTICE OF CANCELLATION SHALL BE MAILED TO THE INSURED AND TO PROVIDE THAT CANCELLATION OF INSURANCE CONTRACTS BY PREMIUM SERVICE COMPANIES SHALL BE EFFECTED EXCLUSIVELY BY THE METHOD SET FORTH IN CHAPTER 27 OF TITLE 38.
Be it enacted by the General Assembly of the State of South Carolina:
Cancellation of insurance contract
SECTION 1. Subsection (c) of Section 38-27-100 of the 1976 Code is amended to read:
"(c) Not less than five days after the expiration of such notice, the premium service company may thereafter request in the name of the insured, cancellation of such insurance contract by mailing to the insurer a notice of cancellation, and the insurance contract shall be cancelled as if such notice of cancellation had been submitted by the insured himself, but without requiring the return of the insurance contract. The premium service company shall also mail a notice of cancellation to the insured at his last address as set forth in its records on or before the date the notice of cancellation is mailed to the insurer, and such mailing shall constitute sufficient proof, of delivery."
Further
SECTION 2. Section 38-27-100 of the 1976 Code is amended by adding a new subsection (g) to read:
"(g) Notwithstanding any other provisions to the contrary, cancellations of insurance contracts by premium service companies shall be effected exclusively by the forms, method and timing set forth in this chapter."
Time effective
SECTION 3. This act shall take effect upon approval by the Governor.
Approved the 27th day of June, 1984.