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H. 4435
STATUS INFORMATION
General Bill
Sponsors: Rep. Gilliard
Document Path: l:\council\bills\dka\3844sd12.docx
Introduced in the House on January 10, 2012
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Bank fees
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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11/29/2011 House Prefiled
11/29/2011 House Referred to Committee on Labor, Commerce and Industry
1/10/2012 House Introduced and read first time (House Journal-page 37)
1/10/2012 House Referred to Committee on Labor, Commerce and Industry
(House Journal-page 37)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-120 SO AS TO PROVIDE THAT A BANK OR FINANCIAL INSTITUTION DOING BUSINESS IN THIS STATE, WHOSE CHARGES AND FEES ARE NOT REGULATED SOLELY BY FEDERAL LAW, MAY NOT CHARGE A FEE FOR A TRANSACTION IN THIS STATE WHERE A CUSTOMER USES A DEBIT CARD ISSUED BY IT TO MAKE A CONSUMER PURCHASE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 3, Title 34 of the 1976 Code is amended by adding:
"Section 34-3-120. (A) A bank or financial institution doing business in this State, whose charges or fees are not regulated solely by federal law, may not charge a fee for a transaction in this State where a customer uses a debit card issued by it to make a consumer purchase.
(B) A debit card for purposes of this section is defined as a card which does not extend credit, but which by its use immediately results in a reduction of funds in an account maintained by the customer at that bank or institution in the amount of the purchase."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Tuesday, December 10, 2013 at 10:26 A.M.