South Carolina Code 38-79-200. Rate increase or assessment authorized
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-79-200
- Association: means any joint underwriting association established by the General Assembly in 1987 and managed and operated pursuant to the provisions of this article. See South Carolina Code 38-79-110
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
The association is authorized to provide a rate increase, assessment as provided in § 38-79-220 or a combination thereof on policyholders which is subject to the approval of the director, or his designee, to reduce the deficit and to maintain rate adequacy.