South Carolina General Assembly
108th Session, 1989-1990

Bill 4980

                    Current Status

Bill Number:               4980
Ratification Number:       741
Act Number                 600
Introducing Body:          House
Subject:                   Authority of Chief Insurance
                           Commissioner
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A600, R741, H4980)

AN ACT TO AMEND SECTION 38-73-495, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE AUTHORITY OF THE CHIEF INSURANCE COMMISSIONER TO DISAPPROVE A PREVIOUSLY APPROVED RATE FOR A CLASSIFICATION OF WORKERS' COMPENSATION INSURANCE AND OTHER MATTERS RELATING TO WORKERS' COMPENSATION, SO AS TO AUTHORIZE THE COMMISSIONER TO DISAPPROVE AN EXPERIENCE MODIFICATION RATE UPON A FINDING THAT IT IS EXCESSIVE, INADEQUATE, OR UNFAIRLY DISCRIMINATORY.

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

Authority of commissioner

SECTION 1. Section 38-73-495 of the 1976 Code, as added by an act of 1990 bearing ratification number 337, is amended by adding:

"(4) disapprove an experience modification rate for workers' compensation insurance upon a finding that the rate is excessive, inadequate, or unfairly discriminatory."

Time effective

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

Approved the 25th day of June, 1990.