Any preferred stock lawfully issued by a banking institution organized under the laws of this State shall be included in determining whether such banking institution has complied with the minimum capital stock requirements provided by law for banking institutions in this State.
HISTORY: 1962 Code Section 8-150; 1952 Code Section 8-150; 1942 Code Section 7835; 1935 (39) 493.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 9 - Bank Capital And Capital Stock
Section 34-9-10. Amount of capital to be paid in United States currency.
Section 34-9-20. Additional ten percent of capital must be paid in.
Section 34-9-40. Minimum capital requirements.
Section 34-9-60. Paid-in capital must meet Federal Deposit Insurance Fund requirements.
Section 34-9-90. Preferred stock shall be included in capital.
Section 34-9-100. Issuance of capital notes or debentures.
Section 34-9-110. Capital notes and debentures shall be included in capital.
Section 34-9-120. Prerequisite of retirement of capital notes and debentures.