SC S0925

Approves Regulation Document Number 5393 from the State Board of Financial Institutions, which repeals regulation R.15-39D concerning Non-interest Bearing Negotiable Order of Withdrawal (NINOW) accounts by state-chartered savings and loan associations

The regulation is being repealed because it is deemed unnecessary; Section 34-28-500 of the South Carolina Code already authorizes these types of accounts

The joint resolution takes effect upon approval by the Governor

Follows the regulatory approval process required under Article 1, Chapter 23, Title 1 of the South Carolina Code of Laws