2021 South Carolina Code of Laws
Title 38 - Insurance
Chapter 95 - Interstate Insurance Product Regulation Compact
Editor's Note
2016 Act No. 161, preamble and Section 1, provide as follows:
"Whereas, the South Carolina General Assembly finds that it enacted the Interstate Insurance Product Regulation Compact in Act 339 of 2008, effective January 1, 2009, for the purposes of regulating certain designated insurance products and advertisement of those products uniformly among the states that are compact members and to authorize this State to join the compact; and
"Whereas, the South Carolina General Assembly finds that the Interstate Insurance Product Regulation Compact proved very successful and was very beneficial to this State; and
"Whereas, the South Carolina General Assembly finds that the Interstate Insurance Product Regulation Compact proved very successful and was very beneficial to this State; and
"Whereas, the South Carolina General Assembly finds that the provisions of Act 339 of 2008 expired on June 1, 2014, pursuant to the provisions of Section 6 of the act, but now should be reenacted retroactive to this expiration date in light of the success and benefits of the compact. Now, therefore,
"Be it enacted by the General Assembly of the State of South Carolina:
"Certain expired provisions reenacted, retroactive application
"SECTION 1. The Interstate Insurance Product Regulation Compact, as established by Section 2, Act 339 of 2008, and contained in Chapter 95, Title 38, and related provisions contained in Sections 1, 3, and 5, Act 339 of 2008, all are reenacted as provided in Act 339 of 2008, retroactive to June 1, 2014, when the act expired. The reporting requirements of Section 4, and the expiration provision of Section 6, Act 339 of 2008, are not reenacted."
- Section 38-95-10. Short title.
- Section 38-95-20. Definitions.
- Section 38-95-30. Interstate Insurance Product Regulation Commission established; venue.
- Section 38-95-40. Powers of commission.
- Section 38-95-50. Organization; management committee; bylaws; legislative monitoring committee; immunity.
- Section 38-95-60. Meetings and actions of commission.
- Section 38-95-70. Rulemaking authority; procedures; opting out of uniform standard; stay of uniform standard; judicial review.
- Section 38-95-80. Records and information of commission; public inspection and copying; confidentiality or nondisclosure; enforcement.
- Section 38-95-90. Dispute resolution.
- Section 38-95-100. Product filing and approval.
- Section 38-95-110. Appeal to review panel; withdrawal or modification of approval.
- Section 38-95-120. Funding; filing fees; budget; exemption from taxation; pledge of credit of compacting state; accounts; claim by compacting state to or ownership of commission property or funds.
- Section 38-95-130. Eligibility and procedure for becoming compacting state; effective date and amendment of compact.
- Section 38-95-140. Withdrawal from compact; default; dissolution.
- Section 38-95-150. Intent to join with other states to establish compact; representative of state designated.
