TO AMEND SECTION 38-75-1000, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMISSIONS PAID BY A TITLE INSURER, SO AS TO REMOVE THE CAP ON THE COMMISSION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 38-75-1000 of the 1976 Code is amended to read:

    "Section 38-75-1000.    A title insurer may not pay a commission, directly or indirectly, of greater than sixty percent on a title insurance policy."

SECTION    2.    This act takes effect upon approval by the Governor.