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SC S0412

Joint Resolution

Official Source

Status

Introduced

3/4/2025

Primary Sponsor

Banking and Insurance

Click for details

Origin

Senate

126th General Assembly

AI Summary

  • Approves Regulation Document Number 5281 from the State Board of Financial Institutions, which repeals Regulation 15-28

  • Eliminates the requirement for banks to file separate income and expense reports when requesting approval to pay cash dividends to shareholders

  • The State Board of Financial Institutions already receives this financial information through the "report of condition" required by Section 34-3-380, making the separate filing redundant

  • Takes effect upon approval by the Governor

Legislative Description

State Board of Financial Institutions - JR to Approve Regulation Document No. 5281

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