South Carolina General Assembly
124th Session, 2021-2022

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H. 3982

STATUS INFORMATION

General Bill
Sponsors: Reps. B. Newton, G.M. Smith, Weeks, Huggins, Bradley, Atkinson, Collins, B. Cox, Bannister, J.E. Johnson, Davis, Wheeler, Kirby, West, Brittain, Wetmore, Stavrinakis, Caskey, Gatch, Pendarvis, Hewitt, Bryant, Fry, Rose, Ballentine, Crawford, Jordan, Kimmons, D.C. Moss, Sandifer and J.L. Johnson
Document Path: l:\council\bills\jn\3358vr21.docx
Companion/Similar bill(s): 539

Introduced in the House on February 25, 2021
Currently residing in the House Committee on Judiciary

Summary: Cap on title insurance commissions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   2/25/2021  House   Introduced and read first time (House Journal-page 5)
   2/25/2021  House   Referred to Committee on Judiciary (House Journal-page 5)
    3/3/2021  House   Member(s) request name added as sponsor: J.L.Johnson
   3/16/2021  House   Member(s) request name removed as sponsor: Murphy

View the latest legislative information at the website

VERSIONS OF THIS BILL

2/25/2021

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

A BILL

TO AMEND SECTION 38-75-1000, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMISSIONS PAID BY A TITLE INSURER, SO AS TO REMOVE THE CAP ON THE COMMISSION.

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

SECTION    1.    Section 38-75-1000 of the 1976 Code is amended to read:

    "Section 38-75-1000.    A title insurer may not pay a commission, directly or indirectly, of greater than sixty percent on a title insurance policy."

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

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This web page was last updated on March 16, 2021 at 1:38 PM