Fabio
86 lines
7.4 KiB
Markdown
86 lines
7.4 KiB
Markdown
---
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type: "Bill"
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title: "Insurance Holding Company Regulatory Act"
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description: "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"
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jurisdiction: "us/states/sc"
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legislature: "South Carolina General Assembly"
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session: "2025-2026"
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identifier: "S 220"
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citation: "South Carolina S 220 (2025-2026)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Cromer"]
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version_count: 8
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action_count: 21
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vote_count: 2
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first_action: "2025-01-15"
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last_action: "2025-05-16"
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source: "openstates"
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source_identifier: "ocd-bill/6a2c348b-13f2-45a1-992d-af44c1c9638d"
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source_url: "https://www.scstatehouse.gov/billsearch.php?billnumbers=220&session=126&summary=B"
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source_hash: "75687aa4f517a6c28d6ccec9d7105dd5a0d12e0ca8d04a31a0ac4e2b3c5ae2c4"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-sc"]
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---
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# South Carolina S 220 (2025-2026) — Insurance Holding Company Regulatory Act
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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
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Filed** (filed) — [source](https://www.scstatehouse.gov/sess126_2025-2026/bills/220.htm)
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2. **01/15/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250115.htm)
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3. **01/29/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250129.htm)
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4. **03/04/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250304.htm)
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5. **03/05/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250305.htm)
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6. **04/01/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250401.htm)
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7. **04/03/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250403.htm)
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8. **04/30/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/220_20250430.htm)
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## Votes
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- Passage of Bill — **87–13** (pass) · lower
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- 2nd Reading — **43–0** (pass) · upper
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## Sponsors
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- Cromer — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-01-15** Introduced and read first time `introduction, reading-1`
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- **2025-01-15** Referred to Committee on Banking and Insurance `referral-committee`
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- **2025-01-29** Scrivener's error corrected
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- **2025-03-04** Committee report: Favorable Banking and Insurance `committee-passage-favorable`
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- **2025-03-05** Scrivener's error corrected
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- **2025-04-01** Amended `amendment-passage`
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- **2025-04-01** Read second time `reading-2`
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- **2025-04-01** Roll call Ayes-43 Nays-0
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- **2025-04-02** Read third time and sent to House `passage, reading-3`
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- **2025-04-03** Scrivener's error corrected
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- **2025-04-03** Introduced and read first time `introduction, reading-1`
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- **2025-04-03** Referred to Committee on Labor, Commerce and Industry `referral-committee`
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- **2025-04-30** Committee report: Favorable Labor, Commerce and Industry `committee-passage-favorable`
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- **2025-05-01** Read second time `reading-2`
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- **2025-05-01** Roll call Yeas-87 Nays-13
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- **2025-05-01** Unanimous consent for third reading on next legislative day
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- **2025-05-02** Read third time and enrolled `passage, reading-3`
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- **2025-05-06** Ratified R 33
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- **2025-05-08** Signed By Governor `executive-signature`
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- **2025-05-16** Effective date 05/08/25
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- **2025-05-16** Act No. 17
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/6a2c348b-13f2-45a1-992d-af44c1c9638d`. Confidence: reported (aggregated from official South Carolina legislature records).
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