Current Status Bill Number:
3840Ratification Number: 172Act Number: 116Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19950322Primary Sponsor: Labor, Commerce and Industry Committee HLCI 26All Sponsors: Labor, Commerce and Industry CommitteeDrafted Document Number: gjk\21582sd.95Date Bill Passed both Bodies: 19950523Governor's Action: U Became law without signature of GovernorDate of Governor's Action: 19950613Subject: Banking records
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19950613 Act No. A116 ------ 19950613 Unsigned, became law without signature of Governor ------ 19950606 Ratified R172 Senate 19950523 Read third time, enrolled for ratification Senate 19950518 Read second time Senate 19950517 Polled out of Committee: Favorable 02 SBI Senate 19950411 Introduced, read first time, 02 SBI referred to Committee House 19950407 Read third time, sent to Senate House 19950406 Unanimous consent for third reading on the next Legislative day House 19950406 Read second time House 19950406 Objection withdrawn by Representative Walker Meacham Fleming House 19950405 Objection withdrawn by Representative Scott Neal Byrd Cato Robinson A. Young R. Smith House 19950330 Objection by Representative Byrd Cato A. Young Fleming R. Smith Meacham Robinson Walker House 19950330 Objection withdrawn by Representative Anderson Inabinett Lloyd Hines House 19950329 Objection by Representative Scott Neal Inabinett Lloyd Hines Anderson House 19950328 Debate interrupted House 19950322 Introduced, read first timeView additional legislative information at the LPITS web site.
(A116, R172, H3840)
AN ACT TO AMEND SECTION 34-3-380, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO REPORTS OF CONDITION OF INSTITUTIONS IN THIS STATE LENDING MONEY AND RECEIVING DEPOSITS, SO AS TO FURTHER PROVIDE FOR THE SUBMITTING OF THESE REPORTS; TO AMEND SECTION 34-3-420, RELATING TO STATEMENTS OF CONDITION WHICH MUST BE SENT TO THE BOARD OF FINANCIAL INSTITUTIONS, SO AS TO REVISE THE DATE THESE REPORTS MUST BE SUBMITTED AND THE CONDITIONS UNDER WHICH THESE REPORTS ARE REQUIRED AND SUBMITTED; AND TO REPEAL SECTIONS 34-3-390, 34-3-400, AND 34-3-410 RELATING TO STATEMENTS OF CONDITION REQUIRED OF CERTAIN BANKS OR INSTITUTIONS ENGAGED IN THE BANKING BUSINESS.
Be it enacted by the General Assembly of the State of South Carolina:
Acceptance of reports
SECTION 1. Section 34-3-380 of the 1976 Code is amended to read:
"Section 34-3-380. All institutions doing business in this State in lending money and receiving deposits, under acts of incorporation granted by the State, under penalty of a forfeiture of their charters, shall provide when and as called for by the State Board of Financial Institutions, without previous notice, a correct report of the condition and business of the institution. The report shall contain a statement under oath by the president or cashier of the institution of the amount of the capital stock paid in, deposits, discounts, property, and liabilities of the institution verified by three of the directors. This section applies to all private banking institutions whether chartered or not. The board shall accept in lieu of the report required by this section a report of condition filed with the federal banking agencies."
SECTION 2. Section 34-3-420 of the 1976 Code is amended to read:
"Section 34-3-420. The statements referred to in Section 34-3-380 shall be sent to the State Board of Financial Institutions within thirty days of the statement date requested and shall be in such form as may be required by the board. Any bank which fails to report within the time given, without excuse given to the board, shall be subject to a fine of ten dollars a day for each day's delay, collectible by the board in any court of competent jurisdiction."
SECTION 3. Sections 34-3-390, 34-3-400, and 34-3-410 of the 1976 Code are repealed.
SECTION 4. This act takes effect upon approval by the Governor.
Became law without the signature of the Governor -- 6/13/95.