Current Status Introducing Body:House Bill Number:3440 Primary Sponsor:Nettles Committee Number:26 Type of Legislation:GB Subject:Motor vehicle insurance agent, multiple offices Residing Body:House Current Committee:Labor, Commerce and Industry Date Tabled:Mar 05, 1991 Computer Document Number:3440 Introduced Date:Feb 06, 1991 Last History Body:House Last History Date:Mar 05, 1991 Last History Type:Tabled in Committee Scope of Legislation:Statewide All Sponsors:Nettles McKay Type of Legislation:General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 3440 House Mar 05, 1991 Tabled in Committee 26 3440 House Feb 06, 1991 Introduced, read first time, 26 referred to CommitteeView additional legislative information at the LPITS web site.
TO AMEND SECTION 38-77-590, AS AMENDED, 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 THREE, RATHER THAN TWO, LOCATIONS AS A DESIGNATED AGENT WHICH HE OWNED AND OPERATED AT THAT TIME AND THROUGH WHICH PREMIUMS OF AT LEAST SEVENTY-FIVE THOUSAND DOLLARS WERE WRITTEN.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-77-590(e) of the 1976 Code, as last amended by Act 171 of 1989, is further 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, except that an applicant maintaining multiple offices on June 4, 1987, is entitled to maintain two three 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."
SECTION 2. This act takes effect upon approval by the Governor.