The bill, S. 925, is a joint resolution introduced in the South Carolina Senate to approve regulations set forth by the State Board of Financial Institutions regarding Non-interest Bearing Negotiable Order of Withdrawal (NINOW) Accounts for state-chartered savings and loan associations. Specifically, it pertains to Regulation Document Number 5393, which is submitted in accordance with Article 1, Chapter 23, Title 1 of the South Carolina Code of Laws. The resolution states that these regulations are approved and will take effect upon the Governor's approval.

Additionally, the South Carolina State Board of Financial Institutions has proposed to repeal R.15-39D, deeming it unnecessary since Section 34-28-500 of the South Carolina Code already permits these types of accounts. This repeal indicates a streamlining of regulations concerning NINOW accounts, ensuring that existing laws are sufficient without the need for additional regulatory measures.