Bill Text: SC S0414 | 2025-2026 | 126th General Assembly | Introduced
Bill Title: State Board of Financial Institutions - JR to Approve Regulation Document No. 5286
Sponsorship: Committee Bill
Status: (Introduced) 2025-03-27 - Recommitted to Committee on Banking and Insurance [S0414 Detail]
Download: South_Carolina-2025-S0414-Introduced.html
South Carolina General Assembly
126th Session, 2025-2026
(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)
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
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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.
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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.
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This web page was last updated on March 04, 2025 at 05:59 PM
