SC H4189 | 2023-2024 | 125th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Engrossed on March 29 2024 - 50% progression
Action: 2024-05-08 - Read second time
Text: Latest bill text (Comm Sub) [HTML]
Status: Engrossed on March 29 2024 - 50% progression
Action: 2024-05-08 - Read second time
Text: Latest bill text (Comm Sub) [HTML]
Summary
Amend The South Carolina Code Of Laws By Amending Section 38-90-10, Relating To Definitions, So As To Include References To Foreign Captive Insurance Companies; By Amending Section 38-90-20, Relating To Licensing And Fees, So As To Amend Meeting Requirements, Remove A Certification Fee And Outline How To Make Proper Payments To The Department; By Amending Section 38-90-40, Relating To Capitalization Requirements, So As To Give Discretion To The Director; By Amending Section 38-90-60, Relating To Incorporation Options And Requirements, So As To Include Foreign Captive Insurance Companies; By Amending Section 38-90-70, Relating To Reports, So As To Change A Deadline And Include References To Foreign Captive Insurance Companies; By Amending Section 38-90-75, Relating To Discounting Of Loss And Loss Adjustment Expense Reserves, So As To Allow A Sponsored Captive Insurance Company To File One Actuarial Opinion; By Amending Section 38-90-80, Relating To Inspections And Examinations, So As To Make The Examination Of Some Captive Insurance Companies Optional And To Include References To Foreign Captive Insurance Companies; By Amending Section 38-90-140, Relating To Tax Payments, So As To Amend Required Tax Payments For A Sponsored Captive Insurance Company; By Amending Section 38-90-165, Relating To Declaration Of Inactivity, So As To Allow For The Submission Of A Written Approval; By Amending Section 38-90-175, Relating To The Captive Insurance Regulatory And Supervision Fund, So As To Change The Allowed Transfer Of Collected Taxes From Twenty Percent To Forty Percent; And By Amending 38-90-215, Relating To Protected Cells, So As To Remove Licensing Requirements.
Title
Captive Insurance Companies
Sponsors
Roll Calls
2024-03-28 - House - House: Passage Of Bill (Y: 104 N: 0 NV: 14 Abs: 5) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-08 | Senate | Read second time |
| 2024-05-08 | Senate | Committee Amendment Adopted |
| 2024-04-25 | Senate | Committee report: Favorable with amendment Banking and Insurance |
| 2024-04-02 | Scrivener's error corrected | |
| 2024-04-02 | Senate | Referred to Committee on Banking and Insurance |
| 2024-04-02 | Senate | Introduced and read first time |
| 2024-03-29 | House | Read third time and sent to Senate |
| 2024-03-28 | House | Unanimous consent for third reading on next legislative day |
| 2024-03-28 | House | Roll call Yeas-104 Nays-0 |
| 2024-03-28 | House | Read second time |
| 2024-03-28 | House | Amended |
| 2024-03-27 | House | Committee report: Favorable with amendment Labor, Commerce and Industry |
| 2023-03-28 | House | Referred to Committee on Labor, Commerce and Industry |
| 2023-03-28 | House | Introduced and read first time |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 38 | 90 | 10 | (n/a) | See Bill Text |
| 38 | 90 | 140 | (n/a) | See Bill Text |
| 38 | 90 | 165 | (n/a) | See Bill Text |
| 38 | 90 | 175 | (n/a) | See Bill Text |
| 38 | 90 | 20 | (n/a) | See Bill Text |
| 38 | 90 | 215 | (n/a) | See Bill Text |
| 38 | 90 | 40 | (n/a) | See Bill Text |
| 38 | 90 | 60 | (n/a) | See Bill Text |
| 38 | 90 | 70 | (n/a) | See Bill Text |
| 38 | 90 | 75 | (n/a) | See Bill Text |
| 38 | 90 | 80 | (n/a) | See Bill Text |
