South Carolina General Assembly
126th Session, 2025-2026
Download This Bill in Microsoft Word Format
Indicates Matter Stricken
Indicates New Matter
S. 414
STATUS INFORMATION
Joint Resolution
Sponsors: Banking and Insurance Committee
Document Path: LC-0334WAB-DBS25.docx
Introduced in the Senate on March 4, 2025
Currently residing in the Senate Committee on Banking and Insurance
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 3/4/2025 | Senate | Introduced, read first time, placed on calendar without reference (Senate Journal-page 9) |
| 3/27/2025 | Senate | Recommitted to Committee on Banking and Insurance (Senate Journal-page 16) |
View the latest legislative information at the website
VERSIONS OF THIS BILL
Introduced
March 4, 2025
S. 414
Introduced by Senate Banking and Insurance Committee
S. Printed 3/4/25--S.
Read the first time March 4, 2025
________
A JOINT RESOLUTION
TO APPROVE REGULATIONS OF THE State Board of Financial Institutions, RELATING TO Declaration of Dividends by State-chartered Credit Unions, DESIGNATED AS REGULATION DOCUMENT NUMBER 5286, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The regulations of the State Board of Financial Institutions, relating to Declaration of Dividends by State-chartered Credit Unions, designated as Regulation Document Number 5286, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the S.C. Code, are approved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
----XXX----
SUMMARY AS SUBMITTED
BY PROMULGATING AGENCY.
The State Board of Financial Institutions (BOFI) proposes to amend Regulation 15-50 to incorporate languages that clarifies the meaning of Section 34-26-710 regarding the declaring and paying of dividends by a credit union.
The Notice of Drafting was published in the State Register on June 28, 2024. The Proposed Regulation was published in the State Register on August 23, 2024.
----XX----
This web page was last updated on March 27, 2025 at 3:24 PM