South Carolina § 38-73-1540 Rate filings may not be supported by data from unauthorized advisory organization.

South Carolina Statutes

§ 38-73-1540 — Rate filings may not be supported by data from unauthorized advisory organization.

South Carolina·Title 38 INSURANCE·Ch. 73 PROPERTY, CASUALTY, INLAND MARINE, AND SURETY RATES AND RATE-MAKING ORGANIZATIONS

No insurer which makes its own filings nor any rating organization may support its filings by statistics or adopt rate-making recommendations furnished to it by an advisory organization which has not complied with this article or with an order of the director or his designee involving statistics or recommendations issued under Section 38-73-1530. If the director or his designee finds an insurer or rating organization to be in violation of this section, he may issue an order requiring the discontinuance of the violation.

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No insurer which makes its own filings nor any rating organization may support its filings by statistics or adopt rate-making recommendations furnished to it by an advisory organization which has not complied with this article or with an order of the director or his designee involving statistics or recommendations issued under Section 38-73-1530. If the director or his designee finds an insurer or rating organization to be in violation of this section, he may issue an order requiring the discontinuance of the violation.

South Carolina § 38-73-1540 (Rate filings may not be supported by data from unauthorized advisory organization.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-43-1240 [1947 (45) 322; 1952 Code SECTION 37-744; 1962 Code SECTION 37-744] recodified as SECTION 38-73-1540 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 783. ARTICLE 15 Joint Underwriting or Joint Reinsurance