A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE STATE BOARD OF FINANCIAL INSTITUTIONS, RELATING TO STATE BANK DIVIDENDS, DESIGNATED AS

This joint resolution approves regulations proposed by South Carolina's State Board of Financial Institutions (BOFI) that amend Regulation 15-4 regarding bank dividend rules. The key change broadens the regulation to include savings banks and savings and loan associations, providing greater flexibility for sound financial institutions in paying dividends. The bill directly affects state banks, savings banks, and savings and loan associations operating in South Carolina by updating their dividend payment guidelines. As a procedural approval of existing regulations (Regulation Document 5292), it does not create new law but formalizes BOFI's proposed changes.