South Carolina House Bill 4238

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on March 30 2023 - 25% progression
Action: 2023-03-30 - Referred to Committee on Labor, Commerce and Industry
Pending: House Labor, Commerce and Industry Committee
Text: Latest bill text (Introduced) [HTML]

Amend The South Carolina Code Of Laws By Amending Section 34-3-850, Relating To The Consolidation Or Merger Of Banks And Trust Companies, So As To Provide That Certain Banks Or Trust Companies May Merge Or Consolidate With, Or Sell Or Transfer Assets And Liabilities To, A State Or Federally Chartered Credit Union; By Amending Section 34-28-230, Relating To The Power To Reorganize, Merge, Consolidate, Or Sell Assets Out Of The Ordinary Course Of Business, So As To Provide That An Association May Reorganize, Merge, Or Consolidate Into A State Or Federally Chartered Credit Union; By Amending Section 34-30-350, Relating To Mergers Of State Savings Banks And Federal Depository Institutions, So As To Provide That A State Or Federally Chartered Credit Union May Merge With Certain Depository Institutions Under A State Savings Bank Charter Or A Federal Charter; By Amending Section 34-30-360, Relating To Mergers Of Stock State Savings Banks With Banks Or Associations, So As To Provide That A Stock State Savings Bank May Apply To Merge With A State Or Federally Chartered Credit Union; By Amending Section 34-26-210, Relating To Discretionary Powers Of The South Carolina Board Of Financial Institutions, So As To Provide That A Credit Union Shall Have The Power To Engage In Certain Activities; By Amending Section 34-26-615, Relating To Board Vacancies, So As To Provide How The Board May Fill Vacancies; By Amending Section 34-26-645, Relating To The Duties Of The Board, So As To Provide That Certain Duties May Be Delegated; By Amending Section 34-26-660, Relating To The Purpose And Composition Of A Credit Union Supervisory Committee, So As To Provide For Certain Board Appointments; By Amending Section 34-26-665, Relating To The Suspension Of Members And Reporting, So As To Provide For Certain Suspensions Or Removals For Cause; And By Amending Section 34-26-670, Relating To The Suspension Or Removal Of A Supervisory Committee Member, So As To Provide For Suspension Or Removal For Cause.

Banks, consolidation and mergers

Rep. William Sandifer [R]

Rep. Bill Taylor [R]

Date	Chamber	Action
2023-03-30	House	Referred to Committee on Labor, Commerce and Industry
2023-03-30	House	Introduced and read first time

Chapter	Article	Section	Citation Type	Statute Text
34	26	210	(n/a)	See Bill Text
34	26	615	(n/a)	See Bill Text
34	26	645	(n/a)	See Bill Text
34	26	660	(n/a)	See Bill Text
34	26	665	(n/a)	See Bill Text
34	26	670	(n/a)	See Bill Text
34	28	230	(n/a)	See Bill Text
34	3	850	(n/a)	See Bill Text
34	30	350	(n/a)	See Bill Text
34	30	360	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=4238&session=125&summary=B
Text	https://www.scstatehouse.gov/sess125_2023-2024/prever/4238_20230330.htm
Supplement	https://www.scstatehouse.gov/sess125_2023-2024/fiscalimpactstatements/H4238%202023-03-30%20introduced.pdf