The rates and premiums paid by employers insured in the fund must not be excessive, inadequate, or unfairly discriminatory. Employers may be grouped by classifications for the establishment of rates and minimum premiums, and classification rates may be modified to produce rates for individual employers in accordance with rating laws which establish standards for measuring any variations in hazards or expense provisions, or both, that can be demonstrated to have a probable effect upon losses or expenses. All premiums collected by the fund must be deposited by it in the State Treasurer to the credit of the State Accident Fund.
HISTORY: 1962 Code Section 72-457; 1952 Code Section 72-457; 1947 (45) 147; 1974 (58) 2237; 1993 Act No. 181, Section 991, eff July 1, 1993.
Structure South Carolina Code of Laws
Title 42 - Workers' Compensation
Section 42-7-10. Establishment of State Accident Fund; contents.
Section 42-7-20. Administration of fund; director.
Section 42-7-30. Legal representation for fund; extra legal services; fees and expenses.
Section 42-7-40. Application to State.
Section 42-7-50. Subdivisions of State; optimal participation.
Section 42-7-60. Officers and employees covered by article.
Section 42-7-65. Average weekly wage designated for certain categories of employees.
Section 42-7-67. Benefits for State and National Guard members.
Section 42-7-70. Rates and premiums.
Section 42-7-80. Payment of awards; notice of intention to contest award.
Section 42-7-90. Expenditures from fund.
Section 42-7-100. Fund director may insure liability.
Section 42-7-210. Transfers from general fund to State Accident Fund authorized.
Section 42-7-310. Establishment, purpose, administration, funding and staff of Second Injury Fund.
Section 42-7-320. Termination of Second Injury Fund; schedule.