South Carolina Statutes
§ 38-101-30 — Issuance of policies.
An insurer may issue an insurance policy, contract, or endorsement providing commercial lines or personal lines coverage for the named peril of flood or excess coverage for the named peril of flood on any structure and on the contents of commercial or personal property contained therein, or to insure against indirect losses from the named peril of flood subject to the requirements of this chapter. Any reference to policy in this chapter also includes endorsements that provide private flood insurance coverage.
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Legislative History
HISTORY: 2020 Act No. 166 (S.882), SECTION 2, eff November 27, 2020; 2022 Act No. 195 (H.4832), SECTION 12, eff May 16, 2022. Editor's Note 2020 Act No. 166, SECTION 3, provides as follows: "SECTION 3. This act becomes effective sixty days following approval by the Governor. Insurers that are writing private flood insurance at the time of enactment have an additional one hundred twenty days to come into compliance with the requirements of this act." Effect of Amendment 2022 Act No. 195, SECTION 12, in the first sentence, substituted "named peril" for "peril" in three places, and made a nonsubstantive change.
Nearby Sections
14
§ 38-101-10
Intent of chapter.§ 38-101-100
Controlling law.§ 38-101-110
Certification of policy that equals or exceeds flood coverage offered by NFIP; misrepresentation.§ 38-101-130
Renewal of policy.§ 38-101-20
Definitions.§ 38-101-30
Issuance of policies.§ 38-101-50
Required filings with director; filing of prospective loss cost and supplementary rate information.