Current Status Introducing Body:
HouseBill Number: 3405Primary Sponsor: Committee (26)Committee Number: 02Type of Legislation: JRSubject: Accident and health insurance, regulations approvedResiding Body: SenateCurrent Committee: Banking and InsuranceComputer Document Number: 3405Introduced Date: Jan 31, 1991Last History Body: SenateLast History Date: Feb 12, 1991Last History Type: Introduced, read first time, referred to CommitteeScope of Legislation: StatewideSponsor Committee: Labor, Commerce and IndustrySponsor Committee Number: 26Type of Legislation: Joint Resolution
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 3405 Senate Feb 12, 1991 Introduced, read first time, 02 referred to Committee 3405 House Feb 07, 1991 Read third time, sent to Senate 3405 House Feb 05, 1991 Read second time 3405 House Jan 31, 1991 Introduced, read first timeView additional legislative information at the LPITS web site.
January 31, 1991
Introduced by Labor, Commerce and Industry Committee
S. Printed 1/31/91--H.
Read the first time January 31, 1991.
TO APPROVE REGULATIONS OF THE INSURANCE DEPARTMENT, RELATING TO MINIMUM RESERVE STANDARDS FOR INDIVIDUAL AND GROUP ACCIDENT AND HEALTH INSURANCE CONTRACTS, DESIGNATED AS REGULATION DOCUMENT NUMBER 1260, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The regulations of the Insurance Department, relating to Minimum Reserve Standards for Individual and Group Accident and Health Insurance Contracts, designated as Regulation Document Number 1260, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
The department proposes to replace existing Regulations 69-7 and 69-7.1 with one new Regulation 69-7 which will establish minimum reserve standards for individual and group accident and health insurance contracts. The new minimum reserve standards established will be those most recently adopted by the National Association of Insurance Commissioners.