H*3333 Session 107 (1987-1988)
H*3333(Rat #0311, Act #0303 of 1988) General Bill, By R.N. McLellan, Alexander,
Bailey, J.M. Baxley, L.E. Bennett, Boan, T.M. Burriss, Carnell, W.N. Cork,
R.S. Corning, C.M. Dangerfield, T.W. Edwards, J.G. Felder, S.R. Foster, Harvin,
R.L. Helmly, J.H. Hodges, D.N. Holt, J.C. Johnson, R.A. Kohn, Martin,
J.G. McAbee, F.E. McBride, W.S. McCain, J.T. McElveen, A.C. McGinnis, McKay,
D.E. McTeer, J.T. Petty, Rhoad, J.I. Rogers, T.F. Rogers, Sheheen, P.E. Short,
J.J. Snow, J.H. Toal, J.W. Tucker, J.B. Wilder, Wilkins and D.E. Winstead
A Bill to amend Chapter 19, Title 12, Code of Laws of South Carolina, 1976,
relating to license fees of corporations, by adding Section 12-19-95 so as to
provide a method by which the amount of the license fee must be measured and
provide for the definitions of "bank", "bank holding company", "subsidiary",
"association", and "savings and loan holding company".
11/02/87 House Prefiled
11/02/87 House Referred to Committee on Ways and Means
01/12/88 House Introduced and read first time HJ-254
01/12/88 House Referred to Committee on Ways and Means HJ-254
01/13/88 House Committee report: Favorable Ways and Means HJ-325
01/14/88 House Read second time HJ-414
01/19/88 House Read third time and sent to Senate HJ-373
01/20/88 Senate Introduced and read first time SJ-8
01/20/88 Senate Referred to Committee on Banking and Insurance
01/21/88 Senate Committee report: Favorable Banking and Insurance SJ-37
01/26/88 Senate Read second time SJ-34
01/26/88 Senate Unanimous consent for third reading on next
legislative day SJ-34
01/27/88 Senate Read third time and enrolled SJ-22
01/28/88 Ratified R 311
02/02/88 Signed By Governor
02/02/88 Effective date 12/31/87
02/02/88 Act No. 303
02/02/88 See act for exception to or explanation of
effective date
02/16/88 Copies available
(A303, R311, H3333)
AN ACT TO AMEND CHAPTER 19, TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976,
RELATING TO LICENSE FEES OF CORPORATIONS, BY ADDING SECTION 12-19-95 SO AS TO
PROVIDE A METHOD BY WHICH THE AMOUNT OF THE LICENSE FEE MUST BE MEASURED AND
PROVIDE FOR THE DEFINITIONS OF "BANK", "BANK HOLDING
COMPANY", "SUBSIDIARY", "ASSOCIATION", AND "SAVINGS
AND LOAN HOLDING COMPANY".
Be it enacted by the General Assembly of the State of South Carolina:
Method of determining fee
SECTION 1. Chapter 19, Title 12 of the 1976 Code is amended by adding:
"Section 12-19-95. The amount of the license fee required by Section
12-19-70 for a bank holding company and savings and loan holding company must be
measured by the capital stock and paid in surplus of the holding company
exclusive of the capital stock and paid in surplus of any bank or savings and
loan association that is a subsidiary of the holding company. For the purposes
of this section, 'bank', 'bank holding company', and a 'subsidiary' of a bank
holding company have the same definitions as in Section 34-24-20, and savings and
loan 'association', 'savings and loan holding company', and a 'subsidiary' of a
savings and loan association have the same definition as in Section
34-28-300."
Time effective
SECTION 2. This act is effective for all corporate returns filed on or after
December 31, 1988. |