If the board determines that a branch maintained by an out-of-state state bank in this State is being operated in violation of any provision of the laws of this State, or that such branch is being operated in an unsafe and unsound manner, the board shall have the authority to take all such enforcement actions as it would be empowered to take if the branch were a South Carolina state bank; provided that the board promptly shall give notice to the home state regulator of each enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
HISTORY: 1996 Act No. 310, Section 2, eff July 1, 1996.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 25 - South Carolina Banking And Branching Efficiency Act Of 1996
Section 34-25-10. Definitions.
Section 34-25-30. Board approval.
Section 34-25-40. Application.
Section 34-25-50. Disapproval of application.
Section 34-25-60. Time for decision; public hearing.
Section 34-25-80. Agency agreements; prohibited activity.
Section 34-25-90. Enforcement.
Section 34-25-100. Board authority.
Section 34-25-220. Definitions.
Section 34-25-230. Merger resulting in South Carolina state bank; board approval.
Section 34-25-240. Merger resulting in out-of-state bank; board approval.
Section 34-25-250. Application.
Section 34-25-260. Findings of board.
Section 34-25-270. Applicable law.
Section 34-25-280. Reporting; board authority.
Section 34-25-290. Enforcement.