South Carolina Statutes
§ 38-89-110 — Deficit to be recouped.
South Carolina § 38-89-110
This text of South Carolina § 38-89-110 (Deficit to be recouped.) 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. § 38-89-110 (2026).
Text
A deficit sustained by the association in a year must be recouped, pursuant to the plan of operation and the rating plan then in effect, by one or both of the following procedures:
(1)an assessment upon the policyholders, which may not exceed one additional annual premium at the then current rate;
(2)a rate increase applicable prospectively.
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Legislative History
HISTORY: 1989 Act No. 189, Part II, SECTION 43 sub 25; 1993 Act No. 181, SECTION 845.
Nearby Sections
15
§ 38-89-10
Definitions.§ 38-89-110
Deficit to be recouped.§ 38-89-130
Participation of association members.§ 38-89-160
Board of directors.§ 38-89-170
Appeal to commission.§ 38-89-180
Statement to be filed by association.§ 38-89-30
General powers.§ 38-89-40
Plan of operation.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 38-89-110, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/89/38-89-110.