Bill > S0397

This bill requires insurance companies offering liquor liability insurance policies in South Carolina to provide detailed annual reporting to the Department of Insurance and mandates that the Department of Revenue report comprehensive information about alcohol-related permits to the General Assembly. Specifically, insurers must submit, by March 1st each year, information about their liquor liability insurance policies, including the premium calculation formula, the number of new policies issued, policies renewed, and policies declined or cancelled during the previous year. Similarly, the Department of Revenue must report annually on on-premises alcohol consumption permits, detailing the total number of renewed permits, new permits issued, permits eligible but not renewed, permits revoked, and permits suspended. These reporting requirements aim to provide transparency and oversight of liquor liability insurance and alcohol-related business permits in the state. The bill will take effect upon approval by the Governor, creating new reporting obligations for insurance companies and state departments to enhance legislative understanding of the alcohol-related business landscape in South Carolina.

Justice

https://www.scstatehouse.gov/billsearch.php?billnumbers=0397&session=126&summary=B