South Carolina § 56-10-20 Type of security required.

South Carolina Statutes

§ 56-10-20 — Type of security required.

South Carolina·Title 56 MOTOR VEHICLES·Ch. 10 MOTOR VEHICLE REGISTRATION AND FINANCIAL SECURITY

The security required under this chapter is a policy or policies written by insurers authorized to write such policies in South Carolina providing for at least (1) the minimum coverages specified in Sections 38-77-140 through 38-77-230 and (2) the benefits required under Sections 38-77-240, 38-77-250, and 38-77-260. However, the director or his designee may approve and accept another form of security in lieu of such a liability insurance policy if he finds that such other form of security is adequate to provide and does in fact provide the benefits required by this chapter.

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The security required under this chapter is a policy or policies written by insurers authorized to write such policies in South Carolina providing for at least (1) the minimum coverages specified in Sections 38-77-140 through 38-77-230 and (2) the benefits required under Sections 38-77-240, 38-77-250, and 38-77-260. However, the director or his designee may approve and accept another form of security in lieu of such a liability insurance policy if he finds that such other form of security is adequate to provide and does in fact provide the benefits required by this chapter.

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Legislative History

HISTORY: Former 1976 Code SECTION 56-11-200 [1962 Code SECTION 46-750.120; 1974 (58)2718] repealed by 1987 Act No. 155, SECTION 25, and recodified as SECTION 56-10-20 by 1987 Act No. 155, SECTION 9; 1993 Act No. 181, SECTION 1474; 1996 Act No. 459, SECTION 219.