S 0857 General Bill, By Turner
Similar (H 5094)
Summary: Contingent Deferred Annuities
    A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-1-20, RELATING TO INSURANCE LAW DEFINITIONS, SO AS TO DEFINE THE TERM "CONTINGENT DEFERRED ANNUITY"; BY AMENDING SECTION 38-69-220, RELATING TO EXCEPTIONS FROM OPERATION OF THE STANDARD NONFORFEITURE LAW FOR INDIVIDUAL DEFERRED ANNUITIES, SO AS TO ADD AN EXCEPTION FOR CERTAIN PROVISIONS OF THE STANDARD NONFORFEITURE LAW FOR INDIVIDUAL DEFERRED ANNUITIES, AND TO PROVIDE THE DEPARTMENT OF INSURANCE MAY PROMULGATE REGULATIONS FOR NONFORFEITURE BENEFITS FOR CONTINGENT DEFERRED ANNUITIES IN THE DISCRETION OF THE DIRECTOR OF THE DEPARTMENT IN CERTAIN CIRCUMSTANCES; AND BY AMENDING SECTION 38-44-20, RELATING TO DEFINITIONS IN THE MANAGING GENERAL AGENTS ACT, SO AS TO MAKE A CONFORMING CHANGE.
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01/28/26	Senate	Introduced and read first time (Senate Journal-page 6)
01/28/26	Senate	Referred to Committee on Banking and Insurance (Senate Journal-page 6)
02/12/26	Senate	Committee report: Favorable with amendment Banking and Insurance (Senate Journal-page 8)
02/18/26	Senate	Committee Amendment Adopted (Senate Journal-page 35)
02/18/26	Senate	Read second time (Senate Journal-page 35)
02/18/26	Senate	Roll call Ayes-44 Nays-0 (Senate Journal-page 35)
02/19/26	Senate	Read third time and sent to House (Senate Journal-page 10)
02/24/26	House	Introduced and read first time (House Journal-page 61)
02/24/26	House	Referred to Committee on Labor, Commerce and Industry (House Journal-page 61)