S.C. Code Regs. § 103-176
Current through Register Vol. 48, No. 3, March 22, 2024
Section 103-176 - Cancellation of Insurance or Surety Bond1. Thirty (30) Days' Notice Required. Any insurance company, surety bond company, or motor carrier which desires to cancel a policy or bond issued to a motor carrier subject to these rules can do so only after giving the ORS not less than thirty (30) days notice. The thirty (30) days will begin to run once the notice is received by the ORS.2. Form K or Form L Used to Give Notice of Cancellation. Notification of cancellation will be made on forms prescribed by the commission. Form K, "Uniform Notice of Cancellation of Motor Carrier Insurance Policies" (see Form K in 23A S.C. Code Ann. Regs. 38-447), will be used to notify the ORS of cancellation of an insurance policy, and Form L, "Uniform Notice of cancellation of Motor Carrier Surety Bonds" (see Form L in 23A S.C. Code Ann. Regs. 38-447), will be used to notify the ORS of cancellation of a surety bond.Amended by State Register Volume 12, Issue No. 5, eff May 27, 1988; State Register Volume 14, Issue No. 3, eff March 23, 1990; State Register Volume 22, Issue No. 6, Part 3, eff June 26, 1998; State Register Volume 32, Issue No. 5, eff May 23, 2008.