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SC S0409
Joint Resolution
Status
Introduced
3/4/2025
Primary Sponsor
Banking and Insurance
Click for details
AI Summary
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Approves Regulation Document Number 5293 from the State Board of Financial Institutions regarding terms and conditions for state-chartered credit unions to make adjustable rate mortgage (ARM) loans
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Repeals Regulation 15-51, as current state law allows greater flexibility for credit unions in this area
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Notice of Drafting was published in the State Register on June 28, 2024, with the Proposed Regulation published on August 23, 2024
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Takes effect upon approval by the Governor
Legislative Description
JR to Approve Reg. Doc. No. 5293
Last Action
Recommitted to Committee on Banking and Insurance
3/27/2025
Committee Referrals
Banking and Insurance3/27/2025
Full Bill Text
No bill text available