South Carolina General Assembly
115th Session, 2003-2004

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H. 4005

STATUS INFORMATION

General Bill
Sponsors: Rep. Cato
Document Path: l:\council\bills\dka\3435dw03.doc
Companion/Similar bill(s): 603

Introduced in the House on April 16, 2003
Introduced in the Senate on May 13, 2003
Currently residing in the Senate Committee on Banking and Insurance

Summary: Wind and Hail Underwriting Association, Insurance Department's director authorized to expand territory on emergency basis to seacoast counties for two year period

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   4/16/2003  House   Introduced and read first time HJ-3
   4/16/2003  House   Referred to Committee on Labor, Commerce and Industry 
                        HJ-3
    5/7/2003  House   Committee report: Favorable Labor, Commerce and Industry 
                        HJ-5
    5/8/2003  House   Read second time HJ-77
    5/8/2003  House   Unanimous consent for third reading on next legislative 
                        day HJ-79
    5/9/2003  House   Read third time and sent to Senate HJ-5
   5/13/2003  Senate  Introduced and read first time SJ-8
   5/13/2003  Senate  Referred to Committee on Banking and Insurance SJ-8

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/16/2003
5/7/2003

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

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COMMITTEE REPORT

May 7, 2003

H. 4005

Introduced by Rep. Cato

S. Printed 5/7/03--H.

Read the first time April 16, 2003.

            

THE COMMITTEE ON

LABOR, COMMERCE AND INDUSTRY

To whom was referred a Bill (H. 4005) to amend Section 38-75-460, Code of Laws of South Carolina, 1976, relating to the authority of the Director of the Department of Insurance to expand the area, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

HARRY F. CATO for Committee.

            

A BILL

TO AMEND SECTION 38-75-460, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE AUTHORITY OF THE DIRECTOR OF THE DEPARTMENT OF INSURANCE TO EXPAND THE AREA IN WHICH THE SOUTH CAROLINA WIND AND HAIL UNDERWRITING ASSOCIATION MUST PROVIDE ESSENTIAL PROPERTY INSURANCE, SO AS TO AUTHORIZE THE DIRECTOR TO EXPAND THE TERRITORY OF THE ASSOCIATION ON AN EMERGENCY BASIS TO INCLUDE SEACOAST COUNTIES FOR A PERIOD OF TWO YEARS RATHER THAN ONE YEAR.

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

SECTION    1.    Section 38-75-460 of the 1976 Code is amended to read:

"Section 38-75-460.    The director or his designee may, by written order, temporarily may expand the area in which the association must shall provide essential property insurance. The area may not be expanded further inland than east of the west bank of the intracoastal waterway and may not be expanded to cover the area for more than twelve months. The director or his designee shall find and declare the existence of an emergency because of the unavailability of coastal property insurance or other unavailability of coastal property insurance on a reasonable basis through normal channels. The order must include the surveys of the market conducted in order to make the determination. The director or his designee may expand the area in which the association shall provide essential property insurance to the whole area or just part of the area. The director may expand the area by construction type or age of construction. The area may not be expanded further than the seacoast territory as defined in Section 38-75-310(7) and may not be expanded to cover the area for more than twenty-four months. If the director or his designee issues an order that expands the area in which the association provides essential property insurance, he shall notify the General Assembly of that order and he shall recommend, through the Director of the Department of Insurance, to the General Assembly any appropriate statutory changes in the law concerning the definition of 'coastal area' which he believes needs to be enacted."

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

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