SC S0075 | 2019-2020 | 123rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 1 2019 - 100% progression
Action: 2019-04-01 - Act No. 3
Text: Latest bill text (Comm Sub) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 1 2019 - 100% progression
Action: 2019-04-01 - Act No. 3
Text: Latest bill text (Comm Sub) [HTML]
Summary
Amend The Code Of Laws Of South Carolina, 1976, By Adding Article 9 To Chapter 13, Title 38 So As To Require An Insurer Or An Insurance Group To Submit A Corporate Governance Annual Disclosure And Establish Certain Requirements For The Disclosure, To Define Necessary Terms, To Authorize The Director Of The Department Of Insurance To Promulgate Regulations Related To The Disclosure, To Provide Certain Confidentiality Requirements For Information Submitted To The Director And To Prohibit The Director Or A Person Who Receives Information Related To The Annual Disclosure From Testifying In A Private Civil Action Concerning The Confidential Information, To Authorize The Director To Retain Third-party Consultants And Prescribe Certain Rules For The Consultants, To Provide A Penalty For An Insurer Who Fails To File The Corporate Governance Annual Disclosure, And To Set An Effective Date; By Adding Section 38-21-295 So As To Authorize The Director To Act As The Group-wide Supervisor For An Internationally Active Insurance Group Under Certain Circumstances, To Establish A Procedure For The Director To Determine Whether He May Act As The Group-wide Supervisor Or Acknowledge Another Regulatory Official To Act As The Group-wide Supervisor, To Authorize The Director To Engage In Certain Activities As Group-wide Supervisor, And To Authorize The Director To Promulgate Regulations; And To Amend Section 38-21-10 So As To Define The Terms "director", "group-wide Supervisor", And "internationally Active Insurance Group". - Ratified Title
Title
Insurance
Sponsors
Roll Calls
2019-02-21 - House - House: Passage Of Bill (Y: 107 N: 0 NV: 11 Abs: 5) [PASS]
2019-01-30 - Senate - Senate: 2nd Reading (Y: 38 N: 1 NV: 0 Abs: 2) [PASS]
2019-01-30 - Senate - Senate: 2nd Reading (Y: 38 N: 1 NV: 0 Abs: 2) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-04-01 | Act No. 3 | |
2019-03-27 | Effective date 03/20/19 | |
2019-03-20 | Signed By Governor | |
2019-03-19 | Ratified R 6 | |
2019-02-22 | House | Read third time and enrolled |
2019-02-21 | House | Unanimous consent for third reading on next legislative day |
2019-02-21 | House | Roll call Yeas-107 Nays-0 |
2019-02-21 | House | Read second time |
2019-02-19 | Scrivener's error corrected | |
2019-02-14 | House | Committee report: Favorable Labor, Commerce and Industry |
2019-01-31 | House | Referred to Committee on Labor, Commerce and Industry |
2019-01-31 | House | Introduced and read first time |
2019-01-31 | Senate | Read third time and sent to House |
2019-01-30 | Senate | Roll call Ayes-38 Nays-1 |
2019-01-30 | Senate | Read second time |
2019-01-25 | Scrivener's error corrected | |
2019-01-25 | Scrivener's error corrected | |
2019-01-24 | Senate | Committee report: Favorable Banking and Insurance |
2019-01-08 | Senate | Referred to Committee on Banking and Insurance |
2019-01-08 | Senate | Introduced and read first time |
2018-12-12 | Senate | Referred to Committee on Banking and Insurance |
2018-12-12 | Senate | Prefiled |
Same As/Similar To
H3587 (Similar To) 2019-02-07 - Referred to Committee on Banking and Insurance