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IntroducedJan 15, 2025
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Passed SenateApr 02, 2025
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Passed HouseMay 02, 2025
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Signed into LawMay 08, 2025
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-21-10, RELATING TO DEFINITIONS, SO AS TO DEFINE TERMS; BY AMENDING SECTION 38-21-30, RELATING TO THE AUTHORITY OF INSURERS TO INVEST IN SECURITIES OF SUBSIDIARIES, SO AS TO INCLUDE HEALTH MAINTENANCE ORGANIZATIONS; BY AMENDING SECTION 38-21-70, RELATING TO CONTENTS OF STATEMENTS, SO AS TO FURTHER EXPLAIN THE REQUIREMENTS OF REPORTING THE DESCRIPTION OF TRANSACTIONS; BY AMENDING SECTION 38-21-90, RELATING TO APPROVAL BY COMMISSIONERS OF ACQUISITION OF CONTROL, SO AS TO REQUIRE THE PERSON ACQUIRING CONTROL OF A DOMESTIC INSURER TO MAINTAIN OR RESTORE CAPITAL; BY AMENDING SECTION 38-21-160, RELATING TO INFORMATION WHICH NEED NOT BE DISCLOSED IN REGISTRATION STATEMENTS, SO AS TO DESIGNATE THAT THE DEFINITION DOES NOT APPLY FOR OTHER PURPOSES; BY AMENDING SECTION 38-21-225, RELATING TO THE ANNUAL ENTERPRISE RISK REPORT, SO AS TO IDENTIFY EXEMPTIONS FOR FILING THE GROUP CAPITAL CALCULATION AND TO REQUIRE FILING RESULTS OF THE LIQUIDITY STRESS TEST FOR SOME INSURERS; BY AMENDING SECTION 38-21-250, RELATING TO STANDARDS FOR TRANSACTIONS WITHIN INSURANCE SYSTEMS, SO AS TO OUTLINE RESPONSIBILITIES OF THE DIRECTOR, AMONG OTHER THINGS; BY AMENDING SECTION 38-21-290, RELATING TO CONFIDENTIAL INFORMATION, SO AS TO REQUIRE THE DIRECTOR TO KEEP GROUP CAPITAL CALCULATIONS, GROUP CAPITAL RATIO AND LIQUIDITY STRESS TEST RESULTS, AND SUPPORTING DISCLOSURES CONFIDENTIAL, AND TO ADD REFERENCES TO THIRD-PARTY CONSULTANTS; BY AMENDING SECTION 38-12-30, RELATING TO DEFINITIONS, SO AS TO ADD AFFILIATES AND SUBSIDIARIES TO THE DEFINITION OF "PERSON"; TO AMEND SECTION 38-12-220, RELATING TO RESTRICTIONS ON INVESTMENTS, SO AS TO INCLUDE AFFILIATES AND SUBSIDIARIES; AND BY AMENDING SECTION 38-12-430, RELATING TO ASSET LIMITATIONS FOR INSURER HOLDINGS, SO AS TO INCLUDE AFFILIATES AND SUBSIDIARIES. - RATIFIED TITLE
Last Action See all actions
legislature • May 16, 2025: Act No. 17
Latest Bill Text See all bill texts
Summary/Bill Text
Comments on S 220
Tweets
Whip Lists
Sponsors
Votes
YES: 43
- Adams, Brian
- Alexander, Thomas C.
- Allen, Karl B.
- Bennett, Sean M.
- Blackmon, Allen
- Campsen, George E., III
- Cash, Richard J.
- Chaplin, JD
- Climer, Wes
- Corbin, Thomas D.
- Cromer, Ronnie W.
- Davis, Tom
- Elliott, Jason
- Fernandez, Tom
- Garrett, Billy
- Goldfinch, Stephen L.
- Graham, Jeffrey R.
- Grooms, Lawrence K.
- Hembree, Greg
- Hutto, Brad
- Jackson, Darrell
- Johnson, Michael
- Kennedy, Carlisle
- Kimbrell, Josh
- Matthew W. "Matt" Leber
- Martin, Shane R.
- Massey, A. Shane
- Matthews, Margie Bright
- Nutt, Roger A.
- Ott, Russell L.
- Peeler, Harvey S., Jr.
- Rankin, Luke A.
- Reichenbach, Mike
- Rice, Rex F.
- Sabb, Ronnie A.
- Stubbs, Everett
- Sutton, Ed
- Deon T. Tedder
- Turner, Ross
- Verdin, Daniel B., III
- Williams, Kent M.
- Young, Tom, Jr.
- Zell, Jeff
NO: 0
OTHER: 3
YES: 87
- Alexander, Terry
- Anderson, Carl L.
- Atkinson, Lucas
- Bailey, William H.
- Ballentine, Nathan
- Bamberg, Justin T.
- Bauer, Heather
- Bernstein, Beth E.
- Bowers, Phillip
- Bradley, Jeffrey A.
- Gary S. Brewer, Jr.
- Brittain, Thomas C., Jr.
- Bustos, Joseph M.
- Caskey, Micajah P., IV
- Donald G. "Don" Chapman
- Cobb-Hunter, Gilda
- Collins, Neal A.
- Cox, Bobby J.
- Cox, Brandon L.
- Crawford, Heather Ammons
- Davis, Sylleste H.
- Dillard, Chandra E.
- Duncan, Adam L.
- Forrest, Cally R., Jr.
- Gagnon, Craig A.
- Garvin, Kambrell H.
- Gatch, Gil
- Gibson, Daniel
- Gilliard, Wendell G.
- Grant, Hamilton R.
- Thomas Duval "Val" Guest, Jr.
- Guffey, Brandon
- Haddon, Patrick B.
- William "Bill" Hager
- Thomas F. "Tom" Hartnett, Jr.
- Hartz, Charles V.
- Hayes, Jackie E.
- Henderson-Myers,, Rosalyn D., Ph.D. Herbkersman, William G.
- Hewitt, Lee
- Hiott, David R.
- Hixon, William M.
- Holman, Harriet A.
- Johnson, Jeffrey E.
- Johnson, Jermaine L., Sr.
- Jones, Wendell K.
- Jordan, Wallace H., Jr.
- John Gregory "Jay" Kilmartin
- Kirby, Roger K.
- Landing, Kathy
- Lawson, M. Brian
- Ligon, Thomas R.
- Long, Steven Wayne
- Luck, Jason S.
- Martin, David
- McGinnis, Timothy A.
- Mitchell, Cody T.
- Montgomery, W. Scott, IV
- Moore, JA
- Moore, Travis A.
- James M. "Mike" Neese
- Newton, Brandon
- Oremus, Melissa Lackey
- Pedalino, Fawn M.
- Reese, Robert T.
- Rivers, Michael F., Sr.
- Rose, Seth
- Rutherford, J. Todd
- Sanders, Richard B.
- Schuessler, Carla
- Sessions, Heath
- Smith, G. Murrell, Jr.
- Smith, Marvin
- Spann-Wilder, Tiffany
- Stavrinakis, Leonidas E.
- Taylor, Bill
- Teeple, James E.
- Vaughan, David
- Waters, Courtney S.
- Weeks, J. David
- Wetmore, Elizabeth
- Whitmire, William R.
- Wickensimer, Paul B.
- Williams, Robert Q.
- Willis, Mark N.
- Wooten, Chris
- Yow, Richard L.
NO: 13
NOT VOTING: 17
- Bannister, Bruce W.
- Calhoon, Paula Rawl
- Chumley, William M.
- Clyburn, William
- Erickson, Shannon S.
- Frank, Stephen
- Gilliam, Leon D.
- Govan, Jerry N., Jr.
- Hardee, Kevin
- Hart, Christopher R.
- Howard, Leon
- Lowe, Phillip D.
- Donald Ryan McCabe, Jr.
- McDaniel, Annie E.
- Newton, Wm. Weston J.
- Robbins, Robby
- Joseph S. "Joe" White
EXCUSED: 6
Actions
- May 16, 2025 | legislature
- Effective date 05/08/25
- Act No. 17
- May 08, 2025 | legislature
- Signed By Governor
- May 06, 2025 | legislature
- Ratified R 33
- May 02, 2025 | House
- Read third time and enrolled
- May 01, 2025 | House
- Read second time
- Roll call Yeas-87 Nays-13
- Unanimous consent for third reading on next legislative day
- Apr 30, 2025 | House
- Committee report: Favorable Labor, Commerce and Industry
- Apr 03, 2025 | House
- Introduced and read first time
- Referred to Committee on Labor, Commerce and Industry
- Apr 03, 2025 | legislature
- Scrivener's error corrected
- Apr 02, 2025 | Senate
- Read third time and sent to House
- Apr 01, 2025 | Senate
- Amended
- Read second time
- Roll call Ayes-43 Nays-0
- Mar 05, 2025 | legislature
- Scrivener's error corrected
- Mar 04, 2025 | Senate
- Committee report: Favorable Banking and Insurance
- Jan 29, 2025 | legislature
- Scrivener's error corrected
- Jan 15, 2025 | Senate
- Introduced and read first time
- Referred to Committee on Banking and Insurance
Documents