Current Status Bill Number:4354 Ratification Number:331 Act Number:437 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19980113 Primary Sponsor:Cato All Sponsors:Cato, Kirsh, Mason, Sandifer, Seithel Drafted Document Number:ggs\22001mm.98 Date Bill Passed both Bodies:19980331 Date of Last Amendment:19980311 Governor's Action:U Became law without signature of Governor Date of Governor's Action:19980421 Subject:Financial Institutions Board, membership to reflect certain merger; Banks, Savings and Loan and Credit Union leagues
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
------ 19980804 Act No. A437
------ 19980421 Unsigned, became law without
signature of Governor
------ 19980414 Ratified R331
Senate 19980331 Read third time, enrolled for
ratification
Senate 19980325 Read second time, notice of
general amendments
Senate 19980324 Polled out of Committee: 02 SBI
Without report
Senate 19980317 Introduced, read first time, 02 SBI
referred to Committee
House 19980312 Read third time, sent to Senate
House 19980311 Amended, read second time
House 19980310 Debate interrupted by adjournment
House 19980219 Committee report: majority 26 HLCI
favorable, with amendment,
minority unfavorable
House 19980217 Co-Sponsor removed (Rule 5.2) by Rep. Riser
House 19980113 Introduced, read first time, 26 HLCI
referred to Committee
House 19971203 Prefiled, referred to Committee 26 HLCI
View additional legislative information at the LPITS web site.
(A437, R331, H4354)
AN ACT TO AMEND SECTION 34-1-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO APPOINTMENT OF MEMBERS TO THE STATE BOARD OF FINANCIAL INSTITUTIONS, SO AS TO REALLOCATE BETWEEN THE SOUTH CAROLINA BANKERS ASSOCIATION AND THE STATE COOPERATIVE CREDIT UNION LEAGUE THE TWO MEMBERS FORMERLY REPRESENTING THE STATE SAVINGS AND LOAN LEAGUE.
Be it enacted by the General Assembly of the State of South Carolina:
Appointment of members to State Board of Financial Institutions
SECTION 1. Section 34-1-20 of the 1976 Code, as last amended by Act 392 of 1990, is further amended to read:
"Section 34-1-20. The State Board of Financial Institutions is composed of ten members, one of whom is the State Treasurer as an ex officio member and as the chairman. The remaining nine members must be appointed by the Governor with the advice and consent of the Senate. Four must be engaged in banking and recommended by the South Carolina Bankers Association, one must be recommended by the association of supervised lenders, one must be engaged in the licensed consumer finance business as a restricted lender and recommended by the association of restricted lenders, two must be engaged in the cooperative credit union business and recommended by the State Cooperative Credit Union League, and one must be unaffiliated with a financial organization and serve as a representative of the consumer of the State. The terms of the present members are not affected. Each member shall represent the best interests of the public and shall not serve more than two consecutive four-year terms. The association which is to provide a member to fill a vacancy on the board, except for a consumer representative, shall submit three names, from three different institutions, from which the Governor shall select one."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Became law without the signature of the Governor -- 04/21/98.