South Carolina Statutes
§ 38-79-230 — Additional surcharge on premium; annual increase.
South Carolina § 38-79-230
This text of South Carolina § 38-79-230 (Additional surcharge on premium; annual increase.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 38-79-230 (2026).
Text
Beginning on January 1, 2021, an additional one percent surcharge on the premium must be assessed on association policyholders. The premium surcharge must increase by one additional percentage point annually until it reaches ten percent and does not sunset. Surcharges levied under this section are not premium and therefore not subject to premium taxes, fees, or commissions. Surcharges may not be considered when evaluating whether rates are excessive, adequate, or unfairly discriminatory.
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Legislative History
HISTORY: 1987 Act No. 155, SECTION 1; 1989 Act No. 129, SECTION 1; 1993 Act No. 181, SECTION 830; 2019 Act No. 67 (H.3760), SECTION 1, eff May 16, 2019. Effect of Amendment 2019 Act No. 67, SECTION 1, 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.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-79-230, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/79/38-79-230.