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Section 34-26-100. Short title. - This chapter is known and may be cited as the...
Section 34-26-110. Definitions. - In construing this chapter, the following definitions shall apply unless...
Section 34-26-200. Responsibility of Board of Financial Institutions. - The Board of Financial Institutions shall be responsible for the...
Section 34-26-210. Discretionary powers of board. - (1) The board may establish procedures to implement any provision...
Section 34-26-220. Suspension of operations of bankrupt or insolvent credit union; liquidation of assets. - (1) If it appears that any credit union is bankrupt...
Section 34-26-230. Appointment of conservator of credit union assets by board or board designee; remedy of credit union to regain possession and control of assets. - (1) The board may, at the board's sole discretion and...
Section 34-26-240. Duty of board to examine credit union; disclosure requirements of credit union officers and agents. - (1) The board at periodic intervals not to exceed twenty-four...
Section 34-26-250. Duty of credit union to maintain books, records, accounting systems, and procedures. - (1) A credit union shall maintain all books, records, accounting...
Section 34-26-260. Form of credit union annual report to board. - (1) Credit unions shall report to the board annually on...
Section 34-26-270. Fees to defray administration, supervision, examination, and other expenses of annual examination of credit union. - (1) The board shall establish annual supervisory fees to be...
Section 34-26-280. Conflict of interest; prohibitions respecting board or commissioner's office employees and credit unions. - (1) No employee of the South Carolina Board of Financial...
Section 34-26-300. Application for credit union charter of incorporation; articles of incorporation and bylaws. - (1) Any ten or more residents of this State, of...
Section 34-26-310. Consideration of application; time period for approval or denial; factors considered. - (1) The board shall act upon the application within ninety...
Section 34-26-320. Model articles of incorporation to facilitate organization of credit unions. - In order to simplify the organization of credit unions, the...
Section 34-26-330. Amendment of articles of incorporation and bylaws. - (1) The articles of incorporation and the bylaws may be...
Section 34-26-340. Name requirements of credit unions. - (1) The name of every credit union organized under this...
Section 34-26-350. Principal place of business of credit union; other locations. - (1) A credit union may change its principal place of...
Section 34-26-360. Fiscal year. - The fiscal year of each credit union incorporated under this...
Section 34-26-370. Conduct of business in state by lawful out-of-state credit union; requirements of board approval. - (1) A credit union organized under the laws of another...
Section 34-26-380. Conduct of business out-of-state by credit union; necessity of board approval. - A credit union incorporated under this chapter may conduct business...
Section 34-26-390. Exemption of credit union from business license tax. - Credit unions organized under this chapter are exempt from business...
Section 34-26-400. Particular powers of cooperative credit union; loans to other credit unions. - A cooperative credit union may receive the savings of its...
Section 34-26-410. Additional powers of credit union. - In addition to the powers mentioned elsewhere in this chapter,...
Section 34-26-420. Powers incidental to purpose of credit union; limitations. - A credit union may exercise incidental powers to enable it...
Section 34-26-500. Requirements of membership; eligible groups; requirement of board approval. - (1) The membership of a credit union may consist of...
Section 34-26-510. Organizations eligible for credit union membership. - Organizations comprised entirely of individuals who are eligible for membership...
Section 34-26-520. Eligibility of other credit unions. - Any credit union organized under this chapter may accept as...
Section 34-26-530. Application for membership; appeal of membership denial. - Persons wishing to join a credit union must do so...
Section 34-26-540. Retention of membership. - Members who cease to be eligible for membership may be...
Section 34-26-550. Member liability for credit union debt. - The members of the credit union shall not be personally...
Section 34-26-560. Expulsion; request for hearing. - The board of directors may expel a member pursuant to...
Section 34-26-570. Annual and other meetings of credit union membership. - (1) The annual meeting and any special meetings of the...
Section 34-26-580. Special meetings; grounds and proceedings. - (1) The supervisory committee by a majority vote may call...
Section 34-26-600. Authority of board of directors. - The board of directors shall have the authority and responsibility...
Section 34-26-605. Membership of board; term of office; board appointment of credit committee. - (1) The board shall consist of an odd number of...
Section 34-26-610. Filing of record of names and addresses of membership. - Within thirty days after the organizational meeting, a record of...
Section 34-26-615. Board vacancies; credit and supervisory committee vacancies. - The board of directors shall fill any vacancies occurring in...
Section 34-26-620. Prohibition against compensation for services; accident insurance; expenses. - No officer, director, or committee member, other than an employee,...
Section 34-26-625. Conflicts of interest; limitation on persons with pecuniary interest. - No director, committee member, officer, agent, or employee of the...
Section 34-26-630. Election of officers. - (1) At their organization meeting held within thirty days following...
Section 34-26-635. Appointment of executive committee. - The board of directors may appoint from its own number...
Section 34-26-640. Meetings of board; frequency of meetings. - (A) The board of directors shall meet as often as...
Section 34-26-645. Duties of board. - In addition to the duties found elsewhere in this chapter,...
Section 34-26-650. Credit committee supervision of member loans. - (1) The credit committee shall have the general supervision of...
Section 34-26-655. Appointment of credit committee loan officers. - The credit committee may appoint one or more loan officers...
Section 34-26-660. Purpose and composition of credit union supervisory committee; term of office. - (1) Each credit union shall have a supervisory committee. The...
Section 34-26-665. Suspension of member; supervisory committee report to board. - (1) The supervisory committee shall report any suspension of a...
Section 34-26-670. Suspension or removal of supervisory committee member. - Any member of the supervisory committee may be suspended or...
Section 34-26-700. Share accounts; par value; pledged shares. - (1) Share accounts shall be subscribed to and paid for...
Section 34-26-710. Dividends. - (1) At such intervals and for such periods as the...
Section 34-26-720. Deposits. - A credit union may accept deposits from members, other credit...
Section 34-26-730. Withdrawal of deposited funds; withdrawal notice. - (1) Funds in share and deposit accounts may be withdrawn...
Section 34-26-740. Payments on share accounts. - Payments on share accounts may be received from a minor...
Section 34-26-750. Ownership interests in share accounts; joint accounts. - (1) A member may designate any person or persons to...
Section 34-26-760. Share accounts held in trust; beneficiaries. - (1) Share and deposit accounts may be owned by one...
Section 34-26-770. Payable-on-death share accounts; effect of transfer of account. - Notwithstanding any other provision of law, a credit union may...
Section 34-26-780. Account lien; right of set-off. - The credit union shall have a lien on the share...
Section 34-26-790. Requirement of incorporators to apply for insurance prior to application for charter. - (1) Before the incorporators of a credit union forward the...
Section 34-26-800. Loans and lines of credit; establishment of written policies. - A credit union may loan to members for such purposes...
Section 34-26-810. Interest rates. - The interest rates on loans shall be determined by the...
Section 34-26-820. Incidental fees and expenses. - (1) In addition to interest charged on loans, a credit...
Section 34-26-830. Loan application. - Applications for loans shall be made by the credit union...
Section 34-26-840. Limitation of size of loan; in general. - The aggregate of direct or indirect loans to any one...
Section 34-26-850. Limitation on loan advances by approved line of credit; periodic review. - (1) Upon application by a member, the credit committee, or...
Section 34-26-860. Limitation on size of loan secured by real estate; approved collateral. - A credit union is authorized to make loans secured by...
Section 34-26-870. Credit union participation in joint loan with other credit union. - A credit union may participate in loans to credit union...
Section 34-26-880. Credit union participation in federal or state loan programs; other powers. - (1) A credit union may participate in any guaranteed loan...
Section 34-26-890. Limitation on loans to directors and members of supervisory and credit committees. - (1) A credit union may make loans to its directors...
Section 34-26-900. Provision of member services; in general. - A credit union may purchase or make available insurance for...
Section 34-26-910. Insurance for officers, agents, and employees. - A credit union may purchase and maintain insurance on behalf...
Section 34-26-920. Marketing arrangements. - A credit union may enter into marketing arrangements with other...
Section 34-26-930. Collection, receipt, and disbursement in connection with negotiable instruments; automated services; fees. - A credit union may collect, receive, and disburse monies in...
Section 34-26-940. Retirement, pension, profit-sharing, and deferred income accounts. - A credit union may act as trustee or custodian of...
Section 34-26-1000. Investment of credit union funds; investment committee. - The board of directors shall have charge of the investments...
Section 34-26-1010. Designation of depositories. - The board of directors shall designate a depository or depositories...
Section 34-26-1020. Permissible investments of credit union funds. - Funds not used in loans to members may be invested:...
Section 34-26-1100. Determination of gross earnings; reservation of reserve; waiver of reserve requirement. - Immediately before the payment of each dividend, the gross earnings...
Section 34-26-1110. Permissible use of reserve; effect of liquidation of credit union. - The regular reserve shall belong to the credit union and...
Section 34-26-1120. Special reserves. - In addition to the regular reserve, special reserves to protect...
Section 34-26-1200. Dissolution; voluntary liquidation; distribution of assets. - (1) A credit union may elect to dissolve voluntarily and...
Section 34-26-1210. Merger. - A credit union organized under this chapter may, with the...
Section 34-26-1220. Conversion of credit union to organization under laws of another state or United States; requirement of member approval. - (1) A credit union incorporated under the laws of this...
Section 34-26-1300. Corporate credit union. - (1) A corporate credit union may be incorporated under this...
Section 34-26-1310. Purposes of corporate credit union. - The purposes of the corporate credit union are to: (a)...
Section 34-26-1320. Corporate credit union membership. - (1) Membership in the corporate credit union shall consist of...
Section 34-26-1330. Application to form corporate credit union. - (1) Application to form a corporate credit union shall be...
Section 34-26-1340. Powers and privileges of corporate credit union. - (1) The corporate credit union shall enjoy the powers and...
Section 34-26-1350. Participation in National Credit Union Administration Central Liquidity Facility; other state and federal financial systems; agreements with third parties. - The corporate credit union may enter into agreements and subscribe...
Section 34-26-1360. Acceptance of security for loans; pledges, assignments, hypothecation, or mortgages. - The corporate credit union may require and accept security for...
Section 34-26-1370. Board of directors of corporate credit union meetings. - The board of directors of the corporate credit union shall...
Section 34-26-1380. Corporate credit union reserve requirements; exemptions. - (1) The corporate credit union shall be exempt from the...
Section 34-26-1390. Annual audit and report. - (1) The supervisory committee of the corporate credit union shall...