Current Status Bill Number:4012 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19970410 Primary Sponsor:Bowers All Sponsors:Bowers Drafted Document Number:pt\1163dw.97 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Retirement Systems, state-operated; invest and reinvest in equity securities; Businesses and Corporations, Pensions
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ House 19970410 Introduced, read first time, 30 HWM referred to CommitteeView additional legislative information at the LPITS web site.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 9-1-1315 SO AS TO AUTHORIZE THE VARIOUS STATE-OPERATED RETIREMENT SYSTEMS TO INVEST AND REINVEST IN EQUITY SECURITIES OF ANY CORPORATION WITHIN THE UNITED STATES THAT IS REGISTERED ON A NATIONAL SECURITIES EXCHANGE AS PROVIDED IN THE SECURITIES EXCHANGE ACT OF 1934.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 9-1-1315.
SECTION 2. This act takes effect upon approval by the Governor.