summary
Introduced
03/04/2025
03/04/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Approve Regulations Of The State Board Of Financial Institutions, Relating To State Bank Dividends, Designated As Regulation Document Number 5292, Pursuant To The Provisions Of Article 1, Chapter 23, Title 1 Of The South Carolina Code Of Laws.
AI Summary
This joint resolution approves regulations from the State Board of Financial Institutions (BOFI) concerning state bank dividends, specifically Regulation Document Number 5292. The resolution, which is based on provisions in Article 1, Chapter 23, Title 1 of the South Carolina Code of Laws, aims to amend Regulation 15-4 to provide greater operational flexibility for financial institutions and expand the regulation's scope to include savings banks and savings and loan associations. By approving these regulations, the General Assembly is formally endorsing changes that will allow financial institutions more latitude in dividend management. The joint resolution will take effect immediately upon receiving the Governor's approval, which is a standard procedural step in the legislative process for regulatory documents in South Carolina.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Banking and Insurance (Senate)
Last Action
Recommitted to Committee on Banking and Insurance (on 03/27/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0410&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/410_20250304A.htm |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/410_20250304.htm |
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