S.C. Code § 56-10-550

Current through 2024 Act No. 209.

Section 56-10-550 - [Effective 7/1/2024] Deposit of funds collected in Uninsured Motorists Fund

Except as provided in Sections 56-10-552 and 56-10-554, funds collected by the Department of Motor Vehicles under the provisions of this chapter must be placed on deposit with the State Treasurer and held in a special fund to be known as the "Uninsured Motorists Fund" to be disbursed as provided by law. The Department of Insurance as provided in Sections 38-77-151 and 38-77-154 may expend monies from such funds for the administration of Title 38.

S.C. Code § 56-10-550

Amended by 2023 S.C. Acts, Act No. 51 (SB 549),s 5, eff. 7/1/2024.

1997 Act No. 154, Section 2.

2023 Act No. 51, Section 40(B), provides as follows:

"[SECTION 40.](B) SECTION 5 takes effect on the first day of the fiscal year following twelve months after approval by the Governor."