South CarolinaS 0857126th General Assembly (2025-2026)Senate

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.

Sponsored By: Ross Turner (Republican)

Passed

Summary

Contingent Deferred Annuities

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Ross Turner

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 44 • No: 0

Senate vote 2/18/2026

(Contingent Deferred Annuities)2nd Reading

Yes: 44 • No: 0

Actions Timeline

  1. Referred to Committee on Labor, Commerce and Industry

    2/24/2026House
  2. Introduced and read first time

    2/24/2026House
  3. Read third time and sent to House

    2/19/2026Senate
  4. Roll call Ayes-44 Nays-0

    2/18/2026Senate
  5. Read second time

    2/18/2026Senate
  6. Committee Amendment Adopted

    2/18/2026Senate
  7. Committee report: Favorable with amendment Banking and Insurance

    2/12/2026Senate
  8. Referred to Committee on Banking and Insurance

    1/28/2026Senate
  9. Introduced and read first time

    1/28/2026Senate

Bill Text

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