A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE STATE BOARD OF FINANCIAL INSTITUTIONS, RELATING TO NON-INTEREST BEARING NEGOTIABLE ORDER OF WITHDRAWAL (NINOW) ACCOUNTS BY STATE-CHARTERED SAVINGS AND LOAN ASSOCIATIONS, DESIGNATED AS

This bill (S. 925) approves regulations from South Carolina's State Board of Financial Institutions regarding Non-interest Bearing Negotiable Order of Withdrawal (NINOW) accounts for state-chartered savings and loan associations. It specifically repeals an existing rule (R.15-39D) because Section 34-28-500 of the South Carolina Code already permits these accounts. The approval directly affects state-chartered savings and loan associations by removing redundant regulations, streamlining their ability to offer NINOW accounts under existing law.