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South Carolina · 2025-2026 Regular Session · Bill

S 220: Insurance Holding Company Regulatory Act

Enacted Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

S 220 is a bill introduced in the South Carolina Senate on January 15, 2025. According to its official title, it concerns: Insurance Holding Company Regulatory Act. Primary sponsor: Ronnie Cromer (Republican). Most recent recorded action (May 16, 2025): Act No. 17.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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

Sponsors

Sponsors by party (alphabetical): Republican 1

NameRolePartyChamberDistrict
Ronnie CromerPrimary sponsorRepublicanSenate18

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Act No. 17
  2. Effective date 05/08/25
  3. Signed By Governor
  4. Ratified R 33
  5. Read third time and enrolled
  6. Unanimous consent for third reading on next legislative day
  7. Roll call Yeas-87 Nays-13
  8. Read second time
  9. Committee report: Favorable Labor, Commerce and Industry
  10. Referred to Committee on Labor, Commerce and Industry
  11. Introduced and read first time
  12. Scrivener's error corrected

Showing 12 most recent of 21 actions. Full history

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source