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Indicates New Matter
S. 539
STATUS INFORMATION
General Bill
Sponsors: Senators Loftis, Talley, Bennett, Cromer, Hutto, Kimbrell, Gambrell, Rankin, Harpootlian and Matthews
Document Path: l:\council\bills\jn\3337ph21.docx
Companion/Similar bill(s): 3982
Introduced in the Senate on February 9, 2021
Currently residing in the Senate Committee on Banking and Insurance
Summary: Removal of title insurance commission cap
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/9/2021 Senate Introduced and read first time (Senate Journal-page 7)
2/9/2021 Senate Referred to Committee on Banking and Insurance
(Senate Journal-page 7)
View the latest legislative information at the website
VERSIONS OF THIS 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.
This web page was last updated on
February 25, 2021 at 10:59 AM