If an insurer charges debtors the same premium for the new coverage that they were paying for the old coverage, and, as a result, insured debtors of a financial institution are charged different premium rates for the same coverage, the rate differences do not constitute unfair discrimination under Sections 38-55-50 and 38-57-120, so long as all the applicable requirements of this chapter are met.
HISTORY: 1988 Act No. 382, Section 2.
Structure South Carolina Code of Laws
Chapter 85 - Consolidations And Mortgage Insurance
Section 38-85-10. Application of chapter.
Section 38-85-20. Definitions.
Section 38-85-30. Requirements for insurer's participation in consolidation.
Section 38-85-40. Loan transfer consolidations.
Section 38-85-50. Additional requirements for insurer's participation in consolidations