2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 83 - JOINT UNDERWRITING ASSOCIATION FOR WRITING OF PROFESSIONAL LIABILITY INSURANCE
SECTION 38-83-110. Deficit sustained by the association.

Any deficit sustained by the association in any 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.

HISTORY: 1987 Act No. 62, Section 12; 1993 Act No. 181, Section 833.