Whenever it shall deem it necessary in order to conserve the assets of any bank for the benefit of the depositors and other creditors thereof the Board may appoint a conservator for any bank and require of him such bond and security as the Board deems proper.
HISTORY: 1962 Code Section 8-282; 1952 Code Section 8-282; 1942 Code Section 7829-7; 1936 (39) 1484.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 5 - Management Of Bank By Conservators
Section 34-5-10. "Bank" defined.
Section 34-5-20. Appointment of conservator of a bank.
Section 34-5-30. Federal Deposit Insurance Corporation as conservator.
Section 34-5-40. Persons who may not be conservators.
Section 34-5-50. Powers of conservator; rights of other persons.
Section 34-5-60. Expenses of conservator; attorney.
Section 34-5-70. Withdrawal of deposits and payment of creditors.
Section 34-5-80. Receipt of deposits.
Section 34-5-90. Conservators may borrow to pay dividends or to reopen.
Section 34-5-100. Termination of conservatorship.
Section 34-5-110. Reorganization of bank.
Section 34-5-120. Publication of notice of reorganization.