All expenses of any such conservatorship shall be paid out of the assets of such bank and shall be a lien thereon which shall be prior to any other lien. The conservator shall receive as salary an amount to be fixed by the Board. The conservator may employ an attorney or attorneys at such reasonable compensation as may be agreed upon; provided, that such employment shall be subject to the written approval of the Board.
HISTORY: 1962 Code Section 8-286; 1952 Code Section 8-286; 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.