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Bill 4355

                    Current Status

Bill Number:                      4355
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20000111
Primary Sponsor:                  T. Brown
All Sponsors:                     T. Brown
Drafted Document Number:          l:\council\bills\dka\3635mm00.doc
Residing Body:                    House
Current Committee:                Labor, Commerce and Industry Committee 26 
                                  HLCI
Subject:                          Banks, Savings and Loans, Financial 
                                  Institutions Board; annual publication of 
                                  statements, reports, evaluations


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20000111  Introduced, read first time,           26 HLCI
                  referred to Committee
House   19991215  Prefiled, referred to Committee        26 HLCI


                             Versions of This Bill

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-430 TO ARTICLE 5, CHAPTER 3, TITLE 34 SO AS TO REQUIRE ANNUAL PUBLICATION OF CERTAIN BANK STATEMENTS, REPORTS, EVALUATIONS, AND OTHER INFORMATION.

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

SECTION 1. Article 5, Chapter 3, Title 34 of the 1976 Code is amended by adding:

"Section 34-3-430. (A) At least annually, the State Board of Financial Institutions shall gather information that each federal and state-chartered bank discloses and make that information available to the public by way of publication in a newspaper of general circulation in every county in which that bank maintains an office or branch. That information includes, but is not limited to:

(1) federal community reinvestment act statements;

(2) federal community reinvestment evaluations;

(3) public or private studies of community lending data pursuant to the federal Home Mortgage Disclosure Act if available;

(4) public or private studies of agreements between banks and community organizations if available;

(5) concentration of banking assets for individual banks and for all banks controlled by a holding company;

(6) loan portfolio mix and loan-to-deposit ratios for each bank;

(7) number of branches, offices, and off-premises electronic facilities;

(8) profitability of each bank;

(9) other information the board considers necessary.

(B) The publication of information must be preceded by a published 'Notice of Publication of Banking Community Reinvestment Performance' thirty days before the information is published.

(C) Annually, the board shall report to the General Assembly a summary of information the board gathers pursuant to this section regarding community reinvestment performance and banking trends that affect economic development."

SECTION 2. This act takes effect upon approval by the Governor.

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