Bill 3707

                    Current Status

Bill Number:               3707
Ratification Number:       261
Act Number                 171
Introducing Body:          House
Subject:                   Designated agent; two locations

(A171, R261, H3707)

AN ACT TO AMEND SECTION 38-77-590, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AUTOMOBILE INSURANCE AND DESIGNATED PRODUCERS, SO AS TO PROVIDE THAT AN APPLICANT MAINTAINING MULTIPLE OFFICES ON JUNE 4, 1987, IS ENTITLED TO MAINTAIN TWO LOCATIONS AS A DESIGNATED AGENT WHICH HE OWNED AND OPERATED AT THAT TIME AND THROUGH WHICH PREMIUMS IN AT LEAST THE AMOUNT OF SEVENTY-FIVE THOUSAND DOLLARS WERE WRITTEN.

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

Designated agent; two locations

SECTION 1. Section 38-77-590(e) of the 1976 Code is amended to read:

"(e) The governing board shall assign a specific location to each producer designated. The governing board shall determine from the commissioner the locations assigned by him to those producers whom the commissioner has designated. Designated producers may not open or maintain any other locations without the written authorization of the governing board; provided, however, that an applicant maintaining multiple offices on June 4, 1987, is entitled to maintain two locations as a designated agent which he owned and operated at that time and through which premiums in at least the amount of seventy-five thousand dollars were written. The governing board shall terminate the designation, and the commissioner shall revoke all agents' licenses of any producer who does not comply with this requirement upon demand by the governing board. Upon termination, the producer's expirations on designated business become the property of the facility."

Time effective

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