Section 56-10-552 - [Effective 7/1/2024] Uninsured Enforcement Fund; use of reinstatement fee(A) For each two dollars of the yearly premium for uninsured motorist coverage paid to the Department of Motor Vehicles pursuant to Section 38-73-470, one dollar twenty cents must be placed by the Comptroller General into the State Highway Fund as established by Section 57-11-20, to be distributed as provided in Section 11-43-167. The remaining eighty cents must be placed in a special fund, to be known as the "Uninsured Enforcement Fund", to be used by the Department of Public Safety for the purpose of enforcement and administration of Article 3, Chapter 10, Title 56.(B) Fifty percent of the reinstatement fee as provided by Section 56-10-520 must be transferred by the Department of Public Safety and recorded to the Uninsured Enforcement Fund to be used by the Department of Public Safety as provided by subsection (A) of this section. The remaining fifty percent of the reinstatement fee as provided by Section 56-10-520 must be retained in the Uninsured Motorist Fund to be used as provided in Sections 56-10-550, 38-77-151, and 38-77-154.Amended by 2023 S.C. Acts, Act No. 51 (SB 549),s 5, eff. 7/1/2024.Amended by 2016 S.C. Acts, Act No. 275 (SB 1258), s 81, eff. 7/1/2016.Amended by 2012 S.C. Acts, Act No. 264 (HB 4888), s 6, eff. 6/18/2012.1997 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."