South Carolina House Bill 3587 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 3-0)
Status: Engrossed on February 7 2019 - 50% progression, died in committee
Action: 2019-02-07 - Referred to Committee on Banking and Insurance
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Amended) [HTML]

Amend The Code Of Laws Of South Carolina, 1976, By Adding Article 9 To Chapter 13, Title 38 So As To Require An Insurer Or An Insurance Group To Submit A Corporate Governance Annual Disclosure And Establish Certain Requirements For The Disclosure, To Define Necessary Terms, To Authorize The Director Of The Department Of Insurance To Promulgate Regulations Related To The Disclosure, To Provide Certain Confidentiality Requirements For Information Submitted To The Director And To Prohibit The Director Or A Person Who Receives Information Related To The Annual Disclosure From Testifying In A Private Civil Action Concerning The Confidential Information, To Authorize The Director To Retain Third-party Consultants And Prescribe Certain Rules For The Consultants, To Provide A Penalty For An Insurer Who Fails To File The Corporate Governance Annual Disclosure, And To Set An Effective Date; By Adding Section 38-21-295 So As To Authorize The Director To Act As The Group-wide Supervisor For An Internationally Active Insurance Group Under Certain Circumstances, To Establish A Procedure For The Director To Determine Whether He May Act As The Group-wide Supervisor Or Acknowledge Another Regulatory Official To Act As The Group-wide Supervisor, To Authorize The Director To Engage In Certain Activities As Group-wide Supervisor, And To Authorize The Director To Promulgate Regulations; And To Amend Section 38-21-10, Relating To Insurance Holding Company Regulatory Act Definitions, So As To Define The Terms "director," "group-wide Supervisor," And "internationally Active Insurance Group".

Insurance

Rep. Kit Spires [R]

Rep. William Sandifer [R]

Rep. John West [R]

2019-02-06 - House - House: Passage Of Bill (Y: 110 N: 0 NV: 10 Abs: 3) [PASS]

Date	Chamber	Action
2019-02-07	Senate	Referred to Committee on Banking and Insurance
2019-02-07	Senate	Introduced and read first time
2019-02-07	House	Read third time and sent to Senate
2019-02-07		Scrivener's error corrected
2019-02-06	House	Roll call Yeas-110 Nays-0
2019-02-06	House	Read second time
2019-02-06	House	Amended
2019-02-05	House	Member(s) request name added as sponsor: West
2019-02-01		Scrivener's error corrected
2019-01-31	House	Committee report: Favorable with amendment Labor, Commerce and Industry
2019-01-15	House	Referred to Committee on Labor, Commerce and Industry
2019-01-15	House	Introduced and read first time

S0075 (Similar To) 2019-04-01 - Act No. 3

Chapter	Article	Section	Citation Type	Statute Text
38	21	10	(n/a)	See Bill Text
38	21	295	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=3587&session=123&summary=B
Text	https://www.scstatehouse.gov/sess123_2019-2020/prever/3587_20190115.htm
Text	https://www.scstatehouse.gov/sess123_2019-2020/prever/3587_20190131.htm
Text	https://www.scstatehouse.gov/sess123_2019-2020/prever/3587_20190201.htm
Text	https://www.scstatehouse.gov/sess123_2019-2020/prever/3587_20190206.htm
Text	https://www.scstatehouse.gov/sess123_2019-2020/prever/3587_20190207.htm
Roll Call	https://www.scstatehouse.gov/votehistory.php?KEY=15596