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2017 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 89 - DAY CARE JOINT UNDERWRITING ASSOCIATION
Section 38-89-110. Deficit to be recouped.
Universal Citation: SC Code § 38-89-110 (2017)
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.
HISTORY: 1989 Act No. 189, Part II, Section 43 sub 25; 1993 Act No. 181, Section 845.
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