South Carolina Statutes
§ 38-79-200 — Rate increase or assessment authorized.
The association is authorized to provide a rate increase, assessment as provided in Section 38-79-220 or a combination thereof on policyholders which is subject to the approval of the director, or his designee, to reduce the deficit and to maintain rate adequacy.
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South Carolina § 38-79-200 (Rate increase or assessment authorized.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 830; 2019 Act No. 67 (H.3760), SECTION 1, eff May 16, 2019; 2022 Act No. 195 (H.4832), SECTION 10, eff May 16, 2022. Effect of Amendment 2019 Act No. 67, SECTION 1, inserted "on policyholders" following "rate increase or assessment". 2022 Act No. 195, SECTION 10, rewrote the section.
Nearby Sections
15
§ 38-79-110
Definitions.§ 38-79-120
Association created; membership as a condition of authority to transact insurance; purpose.§ 38-79-130
Powers of association; policy limits.§ 38-79-140
Plan of operation.§ 38-79-150
Application for coverage.§ 38-79-160
Reserved.§ 38-79-170
Investment income considered in rates and determination of profit or loss of Association.§ 38-79-180
Submission of all policy forms, classifications, rates, rating plans, or rules for approval.§ 38-79-200
Rate increase or assessment authorized.§ 38-79-210
Deficits to be recouped.