§ 38-73-480

S.C. Code Ann. § 38-73-480

Rate for group automobile insurance

Former 1976 Code SECTION 38-37-350 [1962 Code SECTION 37-591.15; 1974 (58) 2718] recodified as SECTION 38-73-480 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 783.

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An automobile insurance contract sold on the basis of a group plan or contract pursuant to Section 38-77-130 shall have a rate not less than five percent less than the individual rate for which the insurer markets a substantially similar policy.

HISTORY: Former 1976 Code SECTION 38-37-350 [1962 Code SECTION 37-591.15; 1974 (58) 2718] recodified as SECTION 38-73-480 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 783.