§ 38-87-70 — Purchasing group and insurer subject to all applicable state laws; exceptions.

South Carolina § 38-87-70

• Jurisdiction: South Carolina
• Title 38: INSURANCE
• Ch. 87: REGULATION AND TAXATION OF RISK RETENTION GROUPS AND PURCHASING GROUPS

Text

A purchasing group, including its insurer or insurers, is subject to all applicable laws of this State, except that a purchasing group, including its insurer or insurers, is exempt, in regard to liability insurance for the purchasing group, from any law that would: (1) prohibit the establishment of a purchasing group; (2) make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages, or other matters; (3) prohibit a purchasing group or its members from purchasing insurance on a group basis described in item (2) of this section; (4) prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time; (5) require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form; (6) require that a certain percentage of a purchasing group must obtain insurance on a group basis; (7) otherwise discriminate against a purchasing group or any of its members; or (8) require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker residing in this State.

Legislative History

HISTORY: 1988 Act No. 355, SECTION 1.