A deficit sustained by the association in a year must be recouped, pursuant to the plan of operation and the rating plan then in effect, by one or both of the following procedures: (1) an assessment upon the policyholders, which may not exceed one additional annual premium at the then current rate; (2) a rate increase applicable prospectively.
Deficit to be recouped
S.C. Code Ann. § 38-89-110, under Title 38, Chapter 89.
S.C. Code Ann. § 38-89-110