South Carolina § 38-71-315 - Decrease of premium charges.
Full text of South Carolina South Carolina Code of Laws § 38-71-315 — Decrease of premium charges., with citation guidance and answers to common questions.
§ 38-71-315. Decrease of premium charges.
Any insurer of individual accident and health insurance may at any time, except when required by law or order of the director or his designee, voluntarily decrease its premium charge for any approved policy form without the prior approval of the director or his designee. However, the insurer must notify the director or his designee and the consumer advocate for information thirty days prior to the use of the revised premium charge. Notwithstanding any other provision of law, any time within one year after using such revised premium charge, the insurer may return its premium charge back to the previously approved level by informing the director or his designee and the consumer advocate of the revision thirty days prior to the effective date. The director or his designee may not disapprove such revision.
HISTORY: 1989 Act No. 90, SECTION 2; 1993 Act No. 181, SECTION 754.
Frequently Asked Questions About South Carolina § 38-71-315
What does South Carolina Code of Laws § 38-71-315 cover?
Section 38-71-315 ("Decrease of premium charges.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 38-71-315?
A common citation format is "South Carolina Code of Laws § 38-71-315" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-71-315 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.