Bill Text: SC S0539 | 2021-2022 | 124th General Assembly | Introduced

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Bill Title: Removal of title insurance commission cap

Spectrum: Slight Partisan Bill (Republican 7-3)

Status: (Introduced - Dead) 2021-02-09 - Referred to Committee on Banking and Insurance [S0539 Detail]

Download: South_Carolina-2021-S0539-Introduced.html

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A BILL

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.