South Carolina Legislature


Session 109 - (1991-1992)Printer Friendly
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H*3185 (Rat #0191, Act #0125 of 1991) General Bill, By Kirsh
    A Bill to amend Section 34-9-130, Code of Laws of South Carolina, 1976, relating to the requirement that a bank or banking institution must establish a surplus account and the amount required to be kept in it and in a minimum deposit reserve, so as to delete those requirements and require every state bank which is not a member of the Federal Reserve System to maintain the same reserves against deposits as is required for a state bank which is a member of the Federal Reserve System and the manner in which they must be maintained; and to amend Section 12-13-30, as amended, relating to the requirement that an association located in this State must pay income tax measured by its net income from all sources, with certain exemptions, so as to clarify that interest earned on deposits at the Federal Home Loan Bank of Atlanta for these associations which meet the Thrift Lender Test set by federal law is exempt.-amended title
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01/09/91House Introduced and read first time HJ-11
01/09/91House Referred to Committee on Labor, Commerce and Industry HJ-11
03/20/91House Committee report: Favorable with amendment Labor, Commerce and Industry HJ-5
03/26/91House Amended HJ-19
03/26/91House Read second time HJ-20
03/28/91House Read third time and sent to Senate HJ-19
04/02/91Senate Introduced and read first time SJ-9
04/02/91Senate Referred to Committee on Banking and Insurance
05/16/91Senate Committee report: Favorable Banking and Insurance SJ-20
05/21/91Senate Amended SJ-147
05/21/91Senate Read second time SJ-148
05/23/91Senate Read third time and returned to House with amendments SJ-10
05/27/91House Concurred in Senate amendment and enrolled HJ-9
05/30/91 Ratified R 191
06/04/91 Signed By Governor
06/04/91 Effective date 06/04/91
06/04/91 Act No. 125
06/13/91 Copies available

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