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Current Status Bill Number:View additional legislative information at the LPITS web site.4355 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20000111 Primary Sponsor:T. Brown All Sponsors:T. Brown Drafted Document Number:l:\council\bills\dka\3635mm00.doc Residing Body:House Current Committee:Labor, Commerce and Industry Committee 26 HLCI Subject:Banks, Savings and Loans, Financial Institutions Board; annual publication of statements, reports, evaluations History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20000111 Introduced, read first time, 26 HLCI referred to Committee House 19991215 Prefiled, referred to Committee 26 HLCI Versions of This Bill
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-430 TO ARTICLE 5, CHAPTER 3, TITLE 34 SO AS TO REQUIRE ANNUAL PUBLICATION OF CERTAIN BANK STATEMENTS, REPORTS, EVALUATIONS, AND OTHER INFORMATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 5, Chapter 3, Title 34 of the 1976 Code is amended by adding:
"Section 34-3-430. (A) At least annually, the State Board of Financial Institutions shall gather information that each federal and state-chartered bank discloses and make that information available to the public by way of publication in a newspaper of general circulation in every county in which that bank maintains an office or branch. That information includes, but is not limited to:
(1) federal community reinvestment act statements;
(2) federal community reinvestment evaluations;
(3) public or private studies of community lending data pursuant to the federal Home Mortgage Disclosure Act if available;
(4) public or private studies of agreements between banks and community organizations if available;
(5) concentration of banking assets for individual banks and for all banks controlled by a holding company;
(6) loan portfolio mix and loan-to-deposit ratios for each bank;
(7) number of branches, offices, and off-premises electronic facilities;
(8) profitability of each bank;
(9) other information the board considers necessary.
(B) The publication of information must be preceded by a published 'Notice of Publication of Banking Community Reinvestment Performance' thirty days before the information is published.
(C) Annually, the board shall report to the General Assembly a summary of information the board gathers pursuant to this section regarding community reinvestment performance and banking trends that affect economic development."
SECTION 2. This act takes effect upon approval by the Governor.
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