S 573 — A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE DEPARTMENT OF INSURANCE, RELATING TO INSURANCE HOLDING COMPANY SYSTEMS, DESIGNATED AS
Last action — Recommitted to Committee on Banking and Insurance
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill is in committee in the Senate. Introduced April 16, 2025. It must pass committee before a floor vote.
Next likely step: a committee vote, then a floor vote in the Senate.
Prognosis
Where this bill stands today.
Odds of enactment
LowHow often bills like it became law.
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In Committee
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
Bill Text
What changed in the latest version
29 added · 15 removedPlain-language change summary
The recent changes to Bill S 573 involve approving new regulations for insurance holding company systems, specifically Regulation Document Number 5320. The updated version introduces a framework for calculating group capital and conducting liquidity stress tests, which will help the Department of Insurance better supervise insurance groups. Additionally, the amendments establish provisions for ensuring essential services continue for insurers in receivership and clarify who owns the data related to these insurers. These updates are important for maintaining accreditation standards with the National Association of Insurance Commissioners, ensuring that South Carolina's insurance oversight remains effective and up-to-date.
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573Document Introducedhas bybeen Senatereformatted Bankingto andmeet World Wide Web specifications.) A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE Department of Insurance, RELATING TO Insurance CommitteeHolding S.Company Systems, DESIGNATED AS REGULATION DOCUMENT NUMBER 5320, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
Printed 4/16/25--S.Be it enacted by the General Assembly of the State of South Carolina:
Read theSECTION first1. timeThe Aprilregulations 16,of 2025the ________ A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE Department of Insurance, RELATINGrelating TOto Insurance Holding Company Systems, DESIGNATEDdesignated ASas REGULATIONRegulation DOCUMENTDocument NUMBERNumber 5320, PURSUANTand TOsubmitted THEto PROVISIONSthe OFGeneral ARTICLEAssembly 1,pursuant CHAPTERto 23,the TITLEprovisions 1of OFArticle THE1, SOUTHChapter CAROLINA23, CODETitle OF1 LAWS.of the S.C.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The regulations of the Department of Insurance, relating to Insurance Holding Company Systems, designated as Regulation Document Number 5320, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the S.C.
SECTION 2. ThisThis joint resolution takes effect upon approval by the Governor.
----XXX---- SUMMARY AS SUBMITTED BY PROMULGATING AGENCY.
The Notice of Drafting was published in the State Register on August 23, 2024.
----XX---- This web page was last updated on April 16, 2025 at 06:5101:37 PM
Action History
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Recommitted to Committee on Banking and Insurance
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Introduced, read first time, placed on calendar without reference
Sponsors
- Senate Banking and Insurance · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 169 not signed on
Sponsors (1)
- Senate Banking and Insurance
Co-sponsors (0)
None.
Not signed on (169)
169 members have not signed on to this bill.
Show all 169 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does S 573 do?
- , PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
- Who sponsors S 573?
- S 573 is sponsored by Senate Banking and Insurance.
- What is the current status of S 573?
- This bill is in committee in the Senate. Introduced April 16, 2025. It must pass committee before a floor vote.
- Where can I track S 573?
- Track S 573 free on One Click Politics — get push/email alerts when it moves.
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