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Bill > S0925
SC S0925
SC S0925State Board of Financial Institutions - JR to Approve Regulation Document No. 5393
summary
Introduced
02/12/2026
02/12/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Approve Regulations Of The State Board Of Financial Institutions, Relating To Non-interest Bearing Negotiable Order Of Withdrawal (ninow) Accounts By State-chartered Savings And Loan Associations, Designated As Regulation Document Number 5393, 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, specifically Regulation Document Number 5393, which concerns Non-interest Bearing Negotiable Order of Withdrawal (NINOW) accounts. NINOW accounts are a type of deposit account that does not earn interest, and this resolution allows state-chartered savings and loan associations to offer them. The approval is in accordance with South Carolina law and takes effect once the Governor signs it. The resolution also notes that the existing regulation is being repealed as unnecessary because state law already permits these types of accounts.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Banking and Insurance (Senate)
Last Action
Introduced, read first time, placed on calendar without reference (on 02/12/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0925&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/925_20260212A.htm |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/925_20260212.htm |
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