South Carolina S 814: Retirement System Investment Commission- ex officio board member

Bill Text

2025-2026 Bill 814 Text of Previous Version (Jan. 14, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 814

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH 
CAROLINA CODE OF LAWS BY AMENDING SECTION 54-3-10, RELATING TO THE STATE PORTS 
AUTHORITY BOARD OF DIRECTORS MEMBERSHIP, SO AS TO ADD THE CHIEF EXECUTIVE 
OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER 
AND TO PERMIT EX OFFICIO MEMBERS TO ATTEND EXECUTIVE SESSION MEETINGS; BY 
AMENDING SECTION 54-3-20, RELATING TO THE STATE PORTS AUTHORITY BOARD OF 
DIRECTORS APPOINTMENT AND TERMS OF MEMBERSHIP, SO AS TO EXCLUDE THE CHIEF 
EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION FROM 
APPOINTMENT BY THE GOVERNOR; BY AMENDING SECTION 54-3-60, RELATING TO THE STATE 
PORTS AUTHORITY BOARD MEMBER QUALIFICATIONS, SO AS TO EXCLUDE THE CHIEF 
EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION; AND BY 
AMENDING SECTION 58-31-20, RELATING TO THE PUBLIC SERVICE AUTHORITY BOARD OF 
DIRECTORS, SO AS TO ADD THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM 
INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Section 54-3-10 of the S.C. Code is amended to read:

 Section 
54-3-10. (A) There is created the 
South Carolina State Ports Authority. The governing body of the authority is a 
board of directors consisting of eleventwelve members, nine voting members appointed by the 
Governor as provided in Section 54-3-20, the Secretary of Transportation, or 
his designee, and the Secretary of Commerce, or his 
designee, and the Chief Executive Officer of the 
Retirement System Investment Commission, or his designee. The voting 
members shall be responsible for setting policies and direction for the 
authority so that the authority may achieve its mission. The powers and duties 
of the authority shall be exercised by the board. The board may delegate to one 
or more officers, agents, or employees such powers and duties as it determines 
are necessary and proper for the effective, efficient operation of the port.

 (B) 
The Secretary of Transportation, and the Secretary of Commerce, and 
the Chief Executive Officer of the Retirement System Investment Commission:

 (1) 
shall serve on the board, ex officio, as nonvoting members; and

 (2) 
are ineligible for election as chairman, vice chairman, secretary, treasurer, 
or any other office elected by the board.; and

 (3) may only attend meetings or portions 
of meetings open to the public. They are not permitted to attend executive 
session meetings.

SECTION 2. Section 54-3-20(A) of the S.C. Code is amended to read:

 (A) The members of the board, except for 
the Secretary of Transportation, and the Secretary of Commerce, and 
the Chief Executive Officer of the Retirement System Investment Commission shall 
be appointed by the Governor, with the advice and consent of the Senate, for 
terms of five years each and until their successors shall have been appointed, 
screened, and qualified. In the event of a vacancy, however caused, a successor 
shall be appointed in the manner of original appointment for the unexpired 
term.

SECTION 3. Section 54-3-60(A) of the S.C. Code is amended to read:

 (A) Each member of the board, except for 
the Secretary of Transportation, and the Secretary of Commerce, and 
the Chief Executive Officer of the Retirement System Investment Commission, or 
their designees, must possess a four-year baccalaureate or more advanced degree 
from:

 (1) 
a recognized institution of higher learning requiring face-to-face contact 
between its students and instructors prior to completion of the academic 
program;

 (2) 
an institution of higher learning that has been accredited by a regional or 
national accrediting body; or

 (3) 
an institution of higher learning in this State chartered prior to 1962.

SECTION 4. Section 58-31-20(E) of the S.C. Code is amended to 
read:

 (E)(1) The following shall be nonvoting ex 
officio members of the board of directors entitled to attend all meetings of 
the Authority board, including any executive sessions, except as set forth 
below:

 The Chairman of 
Central Electric Power Cooperative, or his designee, and one 
member of the Board of Central Electric Power Cooperative chosen by that board 
who is not the chairman or his designee, and the Chief Executive 
Officer of the Retirement System Investment Commission, or his designee. 
The ex officio members shall have the same obligations and duties as other 
members of the board, except the obligation to vote, and are subject to removal 
in the same manner as other board members except the Chief 
Executive Officer of the Retirement System Investment Commission. An ex 
officio member that has otherwise satisfied a