H*2306(Rat #0044, Act #0021 of 1981)  General Bill, By S.H. Howard, W.D. Arthur, 
R.L. Cobb, V.L. Crocker, J.E. Kinard, Martin, Sheheen and J.H. Toal
 A Bill to amend Act 176 of 1977, as amended, relating to the Administrative
 Procedures Act, so as to provide that the General Assembly shall not be
 required to review the regulations promulgated by the State Board of Financial
 Institutions permitting state-chartered banks, savings and loan associations
 and cooperative credit unions to engage in activities corresponding to those
 permitted federally-chartered institutions.

   01/29/81  House  Introduced and read first time HJ-419
   01/29/81  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-420
   02/18/81  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-657
   02/19/81  House  Read second time HJ-696
   02/24/81  House  Read third time and sent to Senate HJ-742
   02/24/81  Senate Introduced and read first time SJ-10
   02/24/81  Senate Referred to Committee on Banking and Insurance SJ-10
   02/26/81  Senate Committee report: Favorable with amendment
                     Banking and Insurance SJ-13
   03/03/81  Senate Amended SJ-16
   03/03/81  Senate Read second time SJ-16
   03/05/81  Senate  Read third time SJ-16
   03/05/81  Senate Returned SJ-16
   03/19/81  House  Senate amendment amended HJ-1294
   03/19/81  House  Returned HJ-1295
   03/19/81  Senate Concurred in House amendment and enrolled SJ-4
   03/24/81  House  Ratified R 44 HJ-1368
   03/26/81         Signed By Governor
   03/26/81         Effective date 03/26/81
   03/26/81         Act No. 21
   04/06/81         Copies available

AN ACT TO AMEND ACT 176 OF 1977, AS AMENDED, RELATING TO THE ADMINISTRATIVE PROCEDURES ACT, SO AS TO PROVIDE THAT THE GENERAL ASSEMBLY SHALL NOT BE REQUIRED TO REVIEW THE REGULATIONS PROMULGATED BY THE STATE BOARD OF FINANCIAL INSTITUTIONS PERMITTING STATE-CHARTERED BANKS, SAVINGS AND LOAN ASSOCIATIONS AND COOPERATIVE CREDIT UNIONS TO ENGAGE IN ACTIVITIES CORRESPONDING TO THOSE PERMITTED FEDERALLY-CHARTERED INSTITUTIONS.

Be it enacted by the General Assembly of the State of South Carolina:

General Assembly not required to review certain regulations.

SECTION 1. The last paragraph of Section 12 of Article I of Act 176 of 1977, as last amended by Act 442 of 1980, is further amended to read:

"General Assembly review shall not be required for regulations promulgated to maintain compliance with federal law including but not limited to grant programs. Review shall also not be required for regulations promulgated by the State Board of Financial Institutions in order to authorize state-chartered banks, state-chartered savings and loan associations and state-chartered credit unions to engage in activities that are authorized pursuant to Section 34-1-110 of the 1976 Code. All regulations submitted to the General Assembly for approval shall have attached thereto a brief synopsis or analysis of the regulations submitted explaining the content therein and any changes in existing regulations resulting there from. Such synopsis or analysis shall include citations of federal law, if any, mandating changes in such regulations. The ninety day period of review provided for in this section shall not begin to run until the synopsis or analysis is attached to regulations submitted."

Time effective

SECTION 2. This act shall take effect upon approval by the Governor.