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4076Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19990511Primary Sponsor: SharpeAll Sponsors: Sharpe, R. Smith, Limehouse and AltmanDrafted Document Number: l:\council\bills\dka\3138jm99.docResiding Body: HouseCurrent Committee: Labor, Commerce and Industry Committee 26 HLCISubject: Insurance agents selling prepaid legal insurance exempt from continuing education requirementsHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990511 Introduced, read first time, 26 HLCI referred to Committee Versions of This Bill
TO AMEND SECTIONS 38-43-105 AND 38-43-106, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EDUCATION AND CONTINUING EDUCATION REQUIREMENTS FOR INSURANCE AGENTS, SO AS TO EXEMPT FROM THESE REQUIREMENTS AGENTS WHO SELL PREPAID LEGAL INSURANCE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-43-105(e) of the 1976 Code is amended by adding:
"(9) prepaid legal insurance."
SECTION 2. Section 38-43-106(F) of the 1976 Code, as added by Act 141 of 1991 and amended by Section 661, Act 181 of 1993, is further amended to read:
"(F) Insurance agents licensed solely for credit life or credit accident and health insurance, credit property insurance, crop hail insurance, automobile physical damage insurance, mortgage guaranty, or mortgage, title, travel accident and baggage,
or the federal crop insurance, or prepaid legal insurance are exempt from the provisions of this section. Insurance agents licensed solely for domestic insurance companies which have less than one million dollars in written premiums in any calendar year are exempt from the provisions of this section. Licensed special agents, or any or all of them, that the department by regulation shall specify are exempt from the provisions of this section."
SECTION 3. This act takes effect upon approval by the Governor.
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