The board of directors may appoint from its own number an executive committee, consisting of not less than three directors, which may be authorized to perform specific actions for the board, subject to confirmation.
HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 26 - South Carolina Credit Union Act
Section 34-26-100. Short title.
Section 34-26-110. Definitions.
Section 34-26-200. Responsibility of Board of Financial Institutions.
Section 34-26-210. Discretionary powers of board.
Section 34-26-260. Form of credit union annual report to board.
Section 34-26-320. Model articles of incorporation to facilitate organization of credit unions.
Section 34-26-330. Amendment of articles of incorporation and bylaws.
Section 34-26-340. Name requirements of credit unions.
Section 34-26-350. Principal place of business of credit union; other locations.
Section 34-26-360. Fiscal year.
Section 34-26-380. Conduct of business out-of-state by credit union; necessity of board approval.
Section 34-26-390. Exemption of credit union from business license tax.
Section 34-26-400. Particular powers of cooperative credit union; loans to other credit unions.
Section 34-26-410. Additional powers of credit union.
Section 34-26-420. Powers incidental to purpose of credit union; limitations.
Section 34-26-500. Requirements of membership; eligible groups; requirement of board approval.
Section 34-26-510. Organizations eligible for credit union membership.
Section 34-26-520. Eligibility of other credit unions.
Section 34-26-530. Application for membership; appeal of membership denial.
Section 34-26-540. Retention of membership.
Section 34-26-550. Member liability for credit union debt.
Section 34-26-560. Expulsion; request for hearing.
Section 34-26-570. Annual and other meetings of credit union membership.
Section 34-26-580. Special meetings; grounds and proceedings.
Section 34-26-600. Authority of board of directors.
Section 34-26-605. Membership of board; term of office; board appointment of credit committee.
Section 34-26-610. Filing of record of names and addresses of membership.
Section 34-26-615. Board vacancies; credit and supervisory committee vacancies.
Section 34-26-620. Prohibition against compensation for services; accident insurance; expenses.
Section 34-26-625. Conflicts of interest; limitation on persons with pecuniary interest.
Section 34-26-630. Election of officers.
Section 34-26-635. Appointment of executive committee.
Section 34-26-640. Meetings of board; frequency of meetings.
Section 34-26-645. Duties of board.
Section 34-26-650. Credit committee supervision of member loans.
Section 34-26-655. Appointment of credit committee loan officers.
Section 34-26-660. Purpose and composition of credit union supervisory committee; term of office.
Section 34-26-665. Suspension of member; supervisory committee report to board.
Section 34-26-670. Suspension or removal of supervisory committee member.
Section 34-26-700. Share accounts; par value; pledged shares.
Section 34-26-730. Withdrawal of deposited funds; withdrawal notice.
Section 34-26-740. Payments on share accounts.
Section 34-26-750. Ownership interests in share accounts; joint accounts.
Section 34-26-760. Share accounts held in trust; beneficiaries.
Section 34-26-770. Payable-on-death share accounts; effect of transfer of account.
Section 34-26-780. Account lien; right of set-off.
Section 34-26-800. Loans and lines of credit; establishment of written policies.
Section 34-26-810. Interest rates.
Section 34-26-820. Incidental fees and expenses.
Section 34-26-830. Loan application.
Section 34-26-840. Limitation of size of loan; in general.
Section 34-26-850. Limitation on loan advances by approved line of credit; periodic review.
Section 34-26-860. Limitation on size of loan secured by real estate; approved collateral.
Section 34-26-870. Credit union participation in joint loan with other credit union.
Section 34-26-880. Credit union participation in federal or state loan programs; other powers.
Section 34-26-900. Provision of member services; in general.
Section 34-26-910. Insurance for officers, agents, and employees.
Section 34-26-920. Marketing arrangements.
Section 34-26-940. Retirement, pension, profit-sharing, and deferred income accounts.
Section 34-26-1000. Investment of credit union funds; investment committee.
Section 34-26-1010. Designation of depositories.
Section 34-26-1020. Permissible investments of credit union funds.
Section 34-26-1110. Permissible use of reserve; effect of liquidation of credit union.
Section 34-26-1120. Special reserves.
Section 34-26-1200. Dissolution; voluntary liquidation; distribution of assets.
Section 34-26-1300. Corporate credit union.
Section 34-26-1310. Purposes of corporate credit union.
Section 34-26-1320. Corporate credit union membership.
Section 34-26-1330. Application to form corporate credit union.
Section 34-26-1340. Powers and privileges of corporate credit union.
Section 34-26-1370. Board of directors of corporate credit union meetings.
Section 34-26-1380. Corporate credit union reserve requirements; exemptions.