Additional surcharge on premium; annual increase.

S.C. Code Ann. § 38-79-230
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Beginning on January 1, 2021, an additional one percent surcharge on the premium must be assessed on association policyholders. The premium surcharge must increase by one additional percentage point annually until it reaches ten percent and does not sunset. Surcharges levied under this section are not premium and therefore not subject to premium taxes, fees, or commissions. Surcharges may not be considered when evaluating whether rates are excessive, adequate, or unfairly discriminatory. Effect of Amendment 2019 Act No. 67, SECTION 1, rewrote the section.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t38c079.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements