South Carolina Statutes
§ 38-78-40 — Reimbursement insurance policies.
(A)Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this State shall conspicuously state that the insurer that issued the policy shall either reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or in the event of the provider's nonperformance, shall provide the service which the provider is legally obligated to perform according to the provider's contractual obligations under the service contracts issued or sold by the provider.
(B)In the event covered service is not provided by the service contract provider within sixty days of proof of loss by the service contract holder, the contract holder is entitled to apply directly to the reimbursement insurance company.
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South Carolina § 38-78-40 (Reimbursement insurance policies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 330, SECTION 2.
Nearby Sections
13
§ 38-78-100
Director empowered to enforce chapter; request for hearing; enforcement actions; civil penalties.§ 38-78-110
Promulgation of regulations.§ 38-78-120
Severability.§ 38-78-20
Definitions.§ 38-78-40
Reimbursement insurance policies.§ 38-78-50
Service contracts; required provisions.