Bill Text: SC S1233 | 2013-2014 | 120th General Assembly | Comm Sub

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Bill Title: Annuity mortality tables for use in determining reserve liabilities for annuities (D. No. 4453)

Spectrum: Committee Bill

Status: (Passed) 2014-09-08 - Act No. 318 [S1233 Detail]

Download: South_Carolina-2013-S1233-Comm_Sub.html

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

COMMITTEE REPORT

May 15, 2014

S. 1233

Introduced by Banking and Insurance Committee

S. Printed 5/15/14--H.

Read the first time April 30, 2014.

            

THE COMMITTEE ON

LABOR, COMMERCE AND INDUSTRY

To whom was referred a Joint Resolution (S. 1233) to approve regulations of the Department of Insurance, relating to annuity mortality tables for use in determining reserve liabilities for annuities, designated as Regulation Document Number 4453, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

WILLIAM E. SANDIFER III for Committee.

            

A JOINT RESOLUTION

TO APPROVE REGULATIONS OF THE DEPARTMENT OF INSURANCE, RELATING TO ANNUITY MORTALITY TABLES FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES, DESIGNATED AS REGULATION DOCUMENT NUMBER 4453, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    The regulations of the Department of Insurance, relating to Annuity Mortality Tables For Use In Determining Reserve Liabilities For Annuities, designated as Regulation Document Number 4453, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.