reglab/housing_qa huggingface dataset:
SC Code § 38-83-150 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 83 - Joint Underwriting Association For Writing Of Professional Liability Insurance|Section 38-83-150. Termination of insurer's obligation as member of the association; effect of merger or consolidation of insurers; insolvency of insurer.

 (A) If the authority of an insurer to transact bodily injury liability insurance, other than automobile, homeowners, or farmowners, in this State terminates for any reason, its obligations as a member of the association continue until all its obligations are fulfilled and the director or his designee has so found and certified to the board of directors.  (B) If a member insurer merges into or consolidates with another insurer authorized to transact insurance in this State or another insurer authorized to transact insurance in this State has reinsured the insurer's entire general liability business in this State, both the insurer and its successor or assuming reinsurer, as the case may be, are liable for the insurer's obligations to the association.  (C) Any unsatisfied net liability of any insolvent member of the association must be assumed by and apportioned among the remaining members in the same manner in which assessments or gain and loss are apportioned and the association shall acquire and have all rights and remedies allowed by law in behalf of the remaining members against the estate or funds of the insolvent insurer for funds due the association.  HISTORY: 1987 Act No. 62, Section 16; 1993 Act No. 181, Section 833.
SC Code § 38-83-160 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 83 - Joint Underwriting Association For Writing Of Professional Liability Insurance|Section 38-83-160. Board of directors for joint underwriting association.

 Each joint underwriting association is governed by a board of seven directors, one of whom is appointed by the Governor to represent the general public and four of whom are appointed by the Governor and represent professionals covered under the association. Two directors are the Chairman of the Labor, Commerce and Industry Committee of the House of Representatives or his designee and the Chairman of the Banking and Insurance Committee of the Senate or his designee, both of whom shall serve ex officio. The approved plan of operation of the association may make provision for combining insurers under common ownership or management into groups for voting, assessment, and all other purposes and may provide that not more than one of the officers or employees of such a group may serve as a director at any one time. The Director of the Department of Insurance is chairman of the board of directors, ex officio, and he, or his designee, must preside at all meetings of the board but has no vote except in the case of a tie.  HISTORY: 1987 Act No. 62, Section 17; 1993 Act No. 181, Section 833.
SC Code § 38-83-170 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 83 - Joint Underwriting Association For Writing Of Professional Liability Insurance|Section 38-83-170. Appeal from ruling.

 Any applicant for insurance through the association, any person insured pursuant to this chapter, or his representative, or any insurer adversely affected, or claiming to be adversely affected, by any ruling, action, or decision by or on behalf of the association, may appeal to the director or his designee within thirty days after the ruling, action, or decision.  HISTORY: 1987 Act No. 62, Section 18; 1993 Act No. 181, Section 833.
SC Code § 38-83-180 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 83 - Joint Underwriting Association For Writing Of Professional Liability Insurance|Section 38-83-180. Filing statements of transactions and other matters.

 The association shall file in the office of the Department of Insurance annually by March first a statement containing information with respect to its transactions, condition, operations, and affairs during the preceding year. The statement shall contain information prescribed by the director or his designee and must be in the form he directs.  The director or his designee, at any reasonable time, may require the association to furnish additional information concerning its transactions, condition, or any matter connected therewith considered to be material and of assistance in evaluating the scope, operations, and experience of the association.  HISTORY: 1987 Act No. 62, Section 19; 1993 Act No. 181, Section 833.
SC Code § 38-83-190 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 83 - Joint Underwriting Association For Writing Of Professional Liability Insurance|Section 38-83-190. Examination of finances.

 The director or his designee shall make an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the Department of Insurance, the Governor, and the General Assembly. The expenses of the examination must be paid by the association.  HISTORY: 1987 Act No. 62, Section 20; 1993 Act No. 181, Section 833.
SC Code § 38-85-10 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-10. Application of chapter.

 This chapter applies to:  (1) all consolidations, whether the old coverage is provided under an individual or group policy;  (2) all mortgage insurance offered, issued, or delivered in this State, by mail or otherwise, in connection with consolidations.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-20 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-20. Definitions.

 In this chapter, unless the context clearly indicates otherwise:  (1) "Consolidation" means any transaction in which a financial institution makes its premium collection services available to its mortgage debtors in connection with a particular insurer's offer of mortgage insurance, which offer is made to debtors who, immediately prior to the offer, had mortgage insurance and were paying premiums for that insurance with their monthly mortgage payments.  (2) "Financial institution" or "servicer" means any entity or organization that services mortgage loans by collecting and accounting for monthly mortgage payments.  (3) "Loan transfer" means a transaction in which the servicing of a block of mortgage loans is transferred from one servicer to another.  (4) "Loan transfer consolidation" means a consolidation involving debtors whose mortgage loans have been transferred from one servicer to another.  (5) "Mortgage" or "mortgage loan" means an indebtedness which is secured by real estate and which is not subject to the South Carolina Consumer Protection Code (Title 37 of the 1976 Code).  (6) "Mortgage insurance" means life, accidental death, or disability insurance, or any combination of these, designed to pay off all or a part of the mortgage loan in the event of the insured's death or disability.  (7) "New coverage" or "new plan" means the mortgage insurance coverage or mortgage insurance plan sponsored by the financial institution in connection with a consolidation.  (8) "Old coverage" or "old plan" means the mortgage insurance coverage or mortgage insurance plan the insured debtor had or participated in immediately prior to the consolidation.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-30 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-30. Requirements for insurer's participation in consolidation.

 (A) No insurer may participate in any consolidation, other than a loan transfer consolidation, unless it complies with the following requirements:  (1) The offer of new coverage must be made to the mortgage debtors not less than thirty days prior to the proposed effective date of the new coverage.  (2) In conjunction with the offer of new coverage, the new insurer shall disclose in writing to each debtor the following:  (a) that the insured debtor may have the right to continue or convert his old coverage by paying premiums directly to the old insurer;  (b) that the offer of new coverage is not conditioned upon either the termination or replacement of the old coverage;  (c) the name and address of the old and the new insurer;  (d) the effective date of the new coverage;  (e) that the financial institution is the primary beneficiary of the new coverage;  (f) whether premium rates under the new plan are guaranteed;  (g) material differences between the new plan and the old plan;  (h) that payment of the required premium constitutes acceptance of the new coverage.  (B) An insurer which fails to comply with item (1) of subsection (A) of this section shall notify the debtor, in writing, that he has the right to an unconditional refund of all premiums paid for the new coverage as long as he exercises that right, in writing, within thirty days from the notification.  (C) Disclosures required under this section may be made on behalf of the new insurer by the financial institution.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-40 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-40. Loan transfer consolidations.

 The following provisions apply to loan transfer consolidations:  (1) An offer of new coverage must be made as soon as reasonably possible after the loan transfer. If an offer of new coverage is not made within thirty days after the loan transfer, or at least thirty days prior to the proposed effective date of the new coverage, the insurer shall notify the debtor, in writing, that he has the right to an unconditional refund of all premiums paid for the new coverage as long as he exercises that right, in writing, within thirty days from the date of the notification.  (2) In conjunction with the offer of new coverage, the new insurer shall disclose in writing to each debtor the following:  (a) that the insured debtor may have the right to continue or convert his old coverage by paying premiums directly to the old insurer;  (b) that the offer of new coverage is not conditioned upon either the termination or replacement of the old coverage;  (c) the name and address of the new insurer;  (d) the effective date of the new coverage;  (e) that the financial institution is the primary beneficiary of the new coverage;  (f) whether premium rates under the new plan are guaranteed;  (g) a description of the benefits provided under the new plan;  (h) that payment of the required premium constitutes acceptance of the new coverage.  (3) Disclosures required under this section may be made on behalf of the new insurer by the new servicer.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-50 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-50. Additional requirements for insurer's participation in consolidations

 No insurer may participate in any consolidation, including loan transfer consolidations, unless it complies with the following requirements:  (1) A group certificate must be delivered to each debtor insured under the new plan. The group certificate shall include the following information:  (a) the name or names of the single or joint insureds;  (b) identification of the insured mortgage;  (c) the amount of insurance under the new plan;  (d) the premium for the new coverage;  (e) the effective date of the new coverage;  (f) the beneficiary for the new coverage.  (2) A group certificate evidencing the new coverage may not include a contestability clause or, in the case of mortgage life insurance, a provision excluding suicide.  (3) The new coverage offered to the debtor must be the same type of coverage as the old coverage.  (4) Notwithstanding the provisions of Section 38-65-210, all group mortgage life insurance certificates shall include a conversion privilege permitting an insured debtor to convert, without evidence of insurability, to an individual policy of decreasing term insurance within thirty days of the date the insured debtor's group coverage is terminated for any reason other than the nonpayment of premiums. The initial amount of coverage under the individual policy must be an amount equal to the amount of coverage terminated under the group policy and must decrease over a term that corresponds with the scheduled term of the insured debtor's mortgage loan.  (5) Whenever the offer of coverage under the new plan is based on the same premium as charged under the old plan, all supplemental benefits provided by the old plan must be provided by the new plan.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-60 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-60. Premiums.

 If an insurer charges debtors the same premium for the new coverage that they were paying for the old coverage, and, as a result, insured debtors of a financial institution are charged different premium rates for the same coverage, the rate differences do not constitute unfair discrimination under Sections 38-55-50 and 38-57-120, so long as all the applicable requirements of this chapter are met.  HISTORY: 1988 Act No. 382, Section 2.
SC Code § 38-85-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-70. Group policy or group certificate of mortgage insurance to be filed with and approved by director.

 No group policy or group certificate of mortgage insurance used in connection with a consolidation, nor any application, endorsement, or rider which becomes a part of any such group policy or certificate, may be issued or delivered in this State until a copy of the form has been filed with and approved by the director or his designee.  HISTORY: 1988 Act No. 382, Section 2; 1993 Act No. 181, Section 834.
SC Code § 38-85-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 85 - Consolidations And Mortgage Insurance|Section 38-85-80. Authorization to promulgate regulations.

 The department is authorized to promulgate regulations to implement this chapter.  HISTORY: 1988 Act No. 382, Section 2; 1993 Act No. 181, Section 835.
SC Code § 38-87-10 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-10. Purpose.

 The purpose of this chapter is to regulate the formation and operation of risk retention groups and purchasing groups in this State formed pursuant to the provisions of the Federal Liability Risk Retention Act of 1986 to the extent permitted by that law.  HISTORY: 1988 Act No. 355, Section 1.
SC Code § 38-87-50 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-50. Participation by risk retention groups and purchasing groups in state insurance insolvency guaranty fund.

 (A) No risk retention group is required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this State; nor may any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by such risk retention group.  (B) When a purchasing group obtains insurance covering its members' risks from an approved surplus lines insurer not admitted in this State or a risk retention group, no such risks, wherever resident or located, may be covered by any insurance guaranty fund or similar mechanism in this State.  (C) When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this State may be covered by the South Carolina Property and Casualty Insurance Guaranty Association created under Chapter 31 of this title.  (D) The director or his designee may require a risk retention group to participate in any mechanism established or authorized under the law of this State for the equitable apportionment among insurers of liability insurance losses and expenses incurred on policies written through such mechanism, and such risk retention group shall submit sufficient information to the department to enable him to apportion on a nondiscriminatory basis the risk retention group's proportionate share of such losses and expenses.  HISTORY: 1988 Act No. 355, Section 1; 1993 Act No. 181, Section 841.
SC Code § 38-87-70 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-70. Purchasing group and insurer subject to all applicable state laws; exceptions.

 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.  HISTORY: 1988 Act No. 355, Section 1.
SC Code § 38-87-80 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-80. Purchasing group; notice of intent to do business; notice of changes; designation of commissioner as agent for service; exceptions; additional information.

 (A) A purchasing group prior to doing business in this State shall furnish notice to the department, on forms prescribed or approved by it, which shall:  (1) identify the state in which the group is domiciled;  (2) identify all other states in which the group intends to do business;  (3) specify the lines and classifications of liability insurance which the purchasing group intends to purchase;  (4) identify the insurance company from which the group intends to purchase its insurance and the domicile of such company;  (5) specify the method by which, and the person, if any, through whom insurance will be offered to its members whose risks are resident or located in this State;  (6) identify the principal place of business of the group;  (7) provide other information as may be required by the director or his designee to verify that the purchasing group is qualified under Section 38-87-20(10).  (B) A purchasing group shall notify, within ten days, the director or his designee of any changes in any of the items set forth in subsection (A) of this section.  (C) The purchasing group shall register with the department and designate the Director of the Department of Insurance as its agent solely for the purpose of receiving service of legal documents or process, except that such requirements do not apply in the case of a purchasing group which satisfies the director or his designee that it only purchases insurance that was authorized under the Federal Products Liability Risk Retention Act of 1981, and:  (1) that in any state of the United States (a) it was domiciled before April 1, 1986; and (b) it is domiciled on and after October 27, 1986;  (2) that (a) before October 27, 1986, it purchased insurance from an insurance carrier licensed in any state; and (b) since October 27, 1986, it purchased its insurance from an insurance carrier licensed in any state; or  (3) that it was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981 before October 27, 1986.  (D) Each purchasing group that is required to give notice pursuant to subsection (A) of this section also shall furnish such information as may be required by the director or his designee to:  (1) verify that the entity qualifies as a purchasing group;  (2) determine where the purchasing group is located;  (3) determine appropriate tax treatment.  HISTORY: 1988 Act No. 355, Section 1; 1993 Act No. 181, Section 842.
SC Code § 38-87-90 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-90. Purchase of insurance from nonstate chartered group or nonstate admitted insurer; notice requirements; deductible or self-insured retention not permitted; aggregate limits on purchase.

 (A) A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located unless the purchase is effected through a licensed agent or broker acting pursuant to the surplus lines laws and regulations of that state.  (B) A purchasing group which obtains liability insurance from an approved surplus lines insurer not admitted in this State or a risk retention group shall inform each of the members of the group which has a risk resident or located in this State that the risk is not protected by an insurance insolvency guaranty fund in this State and that the risk retention group or the insurer may not be subject to all insurance laws and regulations of this State.  (C) No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole. However, coverage may provide for a deductible or self-insured retention applicable to individual members.  (D) Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.  HISTORY: 1988 Act No. 355, Section 1; 1991 Act No. 13, Section 29.
SC Code § 38-87-100 (2021)
2021 South Carolina Code of Laws|Title 38 - Insurance|Chapter 87 - Regulation And Taxation Of Risk Retention Groups And Purchasing Groups|Section 38-87-100. Premium taxes.

 Premium taxes and other taxes on premiums paid for coverage of risks resident or located in this State by a purchasing group or any members of the purchasing group are imposed and must be paid as follows:  (1) If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rate and in the same manner and subject to the same procedures, interest, and penalties as that applicable to premium taxes and other taxes imposed on other admitted liability insurers relative to coverage of risks resident or located in this State.  (2) If the insurer is an approved nonadmitted surplus lines insurer, taxes are imposed on the licensed broker who effected coverage on risks resident or located in this State at the same rate and in the same manner and subject to the same procedures, interest, and penalties as that applicable to taxes imposed on other licensed brokers effecting coverage with approved nonadmitted surplus lines insurers on risks resident or located in this State.  HISTORY: 1988 Act No. 355, Section 1.