South Carolina Statutes
§ 38-81-230 — Joint underwriting association created.
(A)A joint underwriting association is created, consisting of all insurers authorized to write within this State, on a direct basis, bodily injury liability insurance, other than automobile bodily injury liability insurance, homeowners liability insurance, and farmowners liability insurance, including insurers covering such peril in multiple peril package policies. Every such insurer is and must remain a member of the association as a condition of its authority to continue to transact this kind of insurance in this State.
(B)The purpose of the association is to provide legal professional liability insurance on a self-supporting basis to the fullest extent possible.
(C)The association is activated when the department finds and declares the existence of an emergency because of the unavail
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South Carolina § 38-81-230 (Joint underwriting association created.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 360, SECTION 3; 1993 Act No. 181, SECTION 832.
Nearby Sections
15
§ 38-81-210
Findings.§ 38-81-220
Definitions.§ 38-81-230
Joint underwriting association created.§ 38-81-240
Powers of association.§ 38-81-250
Plan of operation.§ 38-81-270
Gathering of data.§ 38-81-280
Structuring rates.§ 38-81-290
Filing of forms.§ 38-81-300
Specification of coverage basis.§ 38-81-310
Rate increases or assessments.§ 38-81-320
Recoupment of deficits.§ 38-81-340
Participation of insurers.