South Carolina General Assembly
111th Session, 1995-1996

Bill 4701


                    Current Status

Bill Number:                    4701
Ratification Number:            391
Act Number:                     329
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19960306
Primary Sponsor:                Worley 
All Sponsors:                   Worley 
Drafted Document Number:        pfm\7974ac.96
Date Bill Passed both Bodies:   19960501
Date of Last Amendment:         19960423
Governor's Action:              U  Became law without signature of
                                Governor
Date of Governor's Action:      19960521
Subject:                        Banks, public events; opening
                                deposit accounts

History



Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

------  19960530  Act No. A329
------  19960521  Unsigned, became law without
                  signature of Governor
------  19960514  Ratified R391
House   19960501  Concurred in Senate amendment, 
                  enrolled for ratification
Senate  19960425  Read third time, returned to House
                  with amendment
Senate  19960423  Amended, read second time
Senate  19960418  Polled out of Committee:                 02 SBI
                  Without report
Senate  19960416  Introduced, read first time,             02 SBI
                  referred to Committee
House   19960412  Read third time, sent to Senate
House   19960411  Read second time, unanimous consent
                  for third reading on the next
                  Legislative day
House   19960410  Committee report: Favorable              26 HLCI
House   19960306  Introduced, read first time,             26 HLCI
                  referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A329, R391, H4701)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-65 SO AS TO AUTHORIZE FINANCIAL INSTITUTIONS TO VISIT PUBLIC EVENTS AND COMMERCIAL LOCATIONS FOR THE PURPOSE OF OPENING DEPOSIT ACCOUNTS SO LONG AS THE SPONSORING ORGANIZATION AGREES AND TO AMEND SECTION 34-3-320 RELATING TO EXAMINATIONS OF BANKS SO AS TO REQUIRE AN EXAMINATION EVERY TWENTY-FOUR MONTHS RATHER THAN EIGHTEEN MONTHS.

Be it enacted by the General Assembly of the State of South Carolina:

Accounts may be opened at special events

SECTION 1. The 1976 Code is amended by adding:

"Section 34-3-65. Financial institutions may provide for account service representatives to visit public events and commercial locations including governmental, educational, and health facilities for the purpose of opening deposit accounts and providing services incidental to opening these accounts. However, access is only available if the financial institution and the sponsor of the public event or the person responsible for the commercial location agree to have the financial institution at the event or location. Account paying and receiving services may not be provided during these visits other than an initial deposit to a new account."

Examinations every twenty-four rather than eighteen months

SECTION 2. Section 34-3-320 of the 1976 Code is amended to read:

"Section 34-3-320. The State Board of Financial Institutions shall fix the examination fees of banks and savings and loan associations on a scale which will yield sufficient revenue to defray the entire expense of examinations for each bank and savings and loan association. Provided, that the board shall make at least one examination every twenty-four months of all banks and savings and loan associations."

Time effective

SECTION 3. This act takes effect upon approval by the Governor.

Became law without the signature of the Governor -- 5/21/96.