The bill S. 397 aims to enhance transparency and accountability in the liquor liability insurance sector and the management of on-premises alcohol permits in South Carolina. It introduces a new section, 38-3-250, to the South Carolina Code of Laws, which mandates insurers providing liquor liability insurance or endorsements to general liability policies to submit specific data to the Department of Insurance annually. This data includes the formula for premium calculations, the number of new and renewed policies, and the number of policies that were declined or canceled. The Department of Insurance is then required to compile this information and report it to the General Assembly by July 1 each year.

Additionally, the bill adds section 61-2-270, which requires the Department of Revenue to report annually to the General Assembly on various statistics related to on-premises beer and wine consumption permits and alcoholic liquor permits. This includes the total number of permits renewed, new permits issued, permits eligible for renewal but not renewed, and those that were revoked or suspended. The act will take effect upon approval by the Governor.

Statutes affected:
02/26/2025: 38-3-250, 61-2-270
Latest Version: 38-3-250, 61-2-270