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Section 34-30-10. Short title. - This chapter is known as "State Savings Bank". HISTORY: 1997...
Section 34-30-20. Application of chapter. - This chapter, unless the context otherwise specifies, applies to all...
Section 34-30-30. Definitions. - (A) The term "savings and loan association" when used in...
Section 34-30-50. Application of Business Corporation Act. - When not in direct conflict with or superseded by specific...
Section 34-30-60. Prior charters; legal name, requirements; prohibited acts; injunctions. - (A) Nothing in this chapter invalidates a charter that was...
Section 34-30-70. Organization and establishment; application, fee; contents of application. - (A) The original incorporators, a majority of whom must be...
Section 34-30-80. Proposed mutual state savings banks, proposed stock state savings banks; articles of incorporation. - (A) The articles of incorporation of a proposed mutual state...
Section 34-30-90. Board examination of application. - Upon receipt of an application to organize and establish a...
Section 34-30-100. Mutual state savings banks, stock state savings banks; approval of application; minimum pledges, adjustment, considerations. - (A) The board may approve an application to form a...
Section 34-30-110. Incomplete applications; time for approval or rejection of completed applications. - (A) If the board does not receive a completed application...
Section 34-30-120. Approval or disapproval of application; order; filing of articles; corporate existence; certificate of authorization, commencement of business; limitation on ownership or control. - (A) After consideration of its findings, and the consideration of...
Section 34-30-130. Insurance on deposit accounts; certification; time for obtaining insurance; excess insurance. - A state savings bank must obtain and maintain insurance on...
Section 34-30-140. Commencement of business; failure to commence within time limit, extension of time; forfeiture of corporate existence; certificate of authorization. - A newly chartered state savings bank must commence business within...
Section 34-30-150. Amendment of articles of incorporation; certification, submission, approval; quorum, voting requirement. - An amendment to the articles of incorporation of a state...
Section 34-30-160. Confidentiality of records; inspection and examination; release; list of members or stockholders. - (A) The books and records of a state savings bank...
Section 34-30-170. Establishment of branch offices; application, fee; approval or denial; corporate office. - (A) A state savings bank may apply to the board...
Section 34-30-180. Change of office location; information, evaluation. - The board of directors of a state savings bank may...
Section 34-30-190. Discontinuance of branch office operation. - The board of a state savings bank may discontinue the...
Section 34-30-200. Loan production office, opening or closing. - A state savings bank may open or close a loan...
Section 34-30-300. Conversion to state savings bank; application, examination, fee; conversion plan, amendment; vote, filing of results; approval. - (A) Any association or state or national bank, upon a...
Section 34-30-310. Conversion to federal charter; procedure. - A state savings bank, stock or mutual, organized and operated...
Section 34-30-320. Conversion to federal charter with change from stock to mutual, or mutual to stock; conversion to state charter with change from mutual to stock. - (A) If a state charter converts to a federal charter...
Section 34-30-330. Mutual state savings bank conversion to stock; application, fee; conversion plan; amendment; approval; vote. - (A) A mutual state savings bank may convert from mutual...
Section 34-30-340. Merger or consolidation of state savings banks; procedure. - Two or more mutual state savings banks or two or...
Section 34-30-350. Merger of state savings banks and federal depository institutions. - Any two or more depository institutions, when one or more...
Section 34-30-360. Merger of stock state savings banks with banks or associations; merger plan; amendment; approval; vote. - (A) A stock state savings bank, upon a majority vote...
Section 34-30-370. Voluntary dissolution of state savings banks. - A state savings bank may be dissolved voluntarily by a...
Section 34-30-380. Resolution to dissolve and liquidate state savings banks and adopt plan of voluntary dissolution; election of liquidators; execution of plan, procedure. - At any annual or special meeting called for the purpose...
Section 34-30-390. Final report and accounting of liquidation; approval of report; certificate of dissolution, recording. - Upon completion of liquidation, the liquidator shall file with the...
Section 34-30-400. Limitations on mergers. - No merger may be approved by the board under this...
Section 34-30-410. Short form merger, consolidation, conversion, or combination merger and conversion. - Notwithstanding another provision of this chapter, to protect the public,...
Section 34-30-420. Applications for permission to organize interim state savings banks; preliminary approval. - (A) Article 2 of this chapter does not apply to...
Section 34-30-510. Powers and duties of board. - The board shall perform the duties and exercise the powers...
Section 34-30-520. Implementation; application of State Administrative Procedures Act; cease and desist orders; suspension of directors, officers, or committee members; authorization to engage in activities of federally chartered savings banks. - (A) The board may establish procedures to implement a provision...
Section 34-30-530. Adoption of rules, regulations, definitions, and forms; recording or reproducing of records; printed reproductions. - (A) The board shall adopt rules or regulations, definitions, and...
Section 34-30-540. Examinations and investigations; report; prohibition against delay or obstruction of examinations, refusal to exhibit records, false statements. - (A) The board is authorized to examine and investigate everything...
Section 34-30-550. Supervision and examination fees. - Every state savings bank, including state savings banks in the...
Section 34-30-560. Failure of examination to disclose complete financial condition; audit of examination; revaluation of assets or liabilities; expenses. - (A) If, in the opinion of the board, an examination...
Section 34-30-570. Board and agents, powers; failure to comply with subpoena, refusal to testify; contempt proceedings. - (A) The board and the board's agents: (1) shall have...
Section 34-30-580. Test appraisals of collateral securing loans; appraisers; appraisals by insurer of accounts; costs and expenses. - (A) The board may direct the making of test appraisals...
Section 34-30-590. Confidentiality of records or information; disclosure of specific information; exchange of information; violations by state officials, liability; copy fees. - (A) The following records or information of the board, or...
Section 34-30-600. Defamation; false information and advertising; fine or imprisonment. - A person who engages in any of the following acts...
Section 34-30-760. Violations; statement, order of discontinuance and compliance; enforcement by court; application for hearing and suspension of order; notice; adjudication. - If the board, as a result of an examination or...
Section 34-30-770. Appointment of conservator; confirmation of appointment; power and authority; term; compensation; discharge; limitations; business of bank under conservatorship. - (A) If the board, as a result of an examination...
Section 34-30-780. Appointment of receiver; confirmation of appointment; power and authority; compensation; tender of appointment to Federal Deposit Insurance Corporation; procedure; contesting of proceedings; reimbursement of expenses and attorney f... - (A) If the board finds that a state savings bank...
Section 34-30-1000. Membership of mutual state savings banks. - (A) The membership of a mutual state savings bank consists...
Section 34-30-1010. Bank directors; election; terms; weighted voting; voting rights; election of stock savings bank directors; terms; ownership interest; number of directors; vacancies; restrictions. - (A) The directors of a mutual state savings bank must...
Section 34-30-1020. Bylaws and amendments; certification; effective date; amendment. - The bylaws and amendments must be certified by the appropriate...
Section 34-30-1030. Fiduciary duties of officers and directors; duties of good faith, diligence, and care. - Officers and directors of a state savings bank shall act...
Section 34-30-1040. Conflict of interest. - Each director, officer, and employee of a state savings bank...
Section 34-30-1050. Voting rights; production of books of record; majority determination of questions. - Voting rights in the affairs of a state savings bank...
Section 34-30-1060. Annual meetings; notice. - (A) A state savings bank must hold an annual meeting...
Section 34-30-1070. Special meetings; notice. - (A) Special meetings of members or stockholders of a state...
Section 34-30-1080. Quorum. - No less than thirty holders of deposit accounts in a...
Section 34-30-1090. Blanket indemnity bond; bonding of agents; settlement; cancellation. - (A) A state savings bank must maintain a blanket indemnity...
Section 34-30-1100. Exemption of directors or officers from personal liability; limitations; breach of duty of loyalty defined. - (A) Notwithstanding another provision of this chapter, a state savings...
Section 34-30-1210. Permitted loans. - (A) A state savings bank may lend funds: (1) on...
Section 34-30-1220. Loan procedures; report of actions; loans on collateral; unsecured loans; investment of funds; sale of loans. - (A) The board of directors shall establish procedures by which...
Section 34-30-1230. Acceptance of own capital stock or mutual capital certificates as security prohibited. - A state savings bank may not accept its own capital...
Section 34-30-1240. Condition of loan on specific contracts prohibited. - A state savings bank or service corporation shall not require,...
Section 34-30-1250. Loan expenses; late payment charge; levy of payments. - Pursuant to the provisions of the South Carolina Consumer Protection...
Section 34-30-1260. Repayment plan; written agreement required. - Subject to rules or regulations as the board prescribes, a...
Section 34-30-1270. Stringency of rules or regulations. - The board may adopt rules or regulations no less stringent...
Section 34-30-1280. Limitations on rules or regulations. - A rule or regulation that the board adopts in respect...
Section 34-30-1290. Loans or investments violating this chapter. - Unless otherwise provided, every loan or other investment made in...
Section 34-30-1300. Limitation on total loans and extensions of credit; "person" defined; rules or regulations. - (A) The total loans and extensions of credit, both direct...
Section 34-30-1310. Investments in real property; limitations. - With the prior approval of the board, a state savings...
Section 34-30-1320. Investments in obligations issued and guaranteed by federal government. - A state savings bank may invest in an obligation issued...
Section 34-30-1330. Investments in obligations issued and guaranteed by State. - A state savings bank may invest in an obligation issued...
Section 34-30-1340. Investments in stock or bonds of Federal Home Loan Banks. - A state savings bank may invest in the stock of...
Section 34-30-1350. Investments in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts. - A state savings bank may invest in certificates of deposit,...
Section 34-30-1360. Investments in stock of federal government sponsored enterprises. - A state savings bank may invest in stock or other...
Section 34-30-1370. Investments in direct general obligations of state government, bonds payable from pledged revenues or earnings. - A state savings bank may invest in bonds or other...
Section 34-30-1380. Investments in stock of corporations or state agencies which provide educational loans. - A state savings bank may invest in stock or obligations...
Section 34-30-1390. Investments in stock of business or industrial development corporations. - A state savings bank may invest in stock or other...
Section 34-30-1400. Investments in stock of urban renewal investment corporations. - A state savings bank may invest in stock or other...
Section 34-30-1410. Limitations on loans and investments in commercial loans. - Subject to rules or regulations that the board considers appropriate,...
Section 34-30-1420. Establishment of service corporations; investments in securities of existing service corporations; limitations; audit and examination; report of proposed activities, objections; office locations. - (A) A state savings bank or group of savings institutions...
Section 34-30-1430. Loans or investments for federal associations or national banking associations located in State. - With the prior approval of the board, a state savings...
Section 34-30-1440. Authorized actions of state savings banks; issuance of capital notes, bonds, debentures, or other obligations or securities. - (A) In addition to the powers granted in this chapter,...
Section 34-30-1450. Vesting of security ownership in parties other than original executors; dealings with successors in interest. - With respect to an investment made by a state savings...
Section 34-30-1610. Deposits; accounts, transfer; deposit account contract; evidence of account ownership; loss or destruction of evidence of ownership, issuance of new evidence of ownership, bond. - (A) A state savings bank may receive deposits of funds...
Section 34-30-1620. Accounts from married or minor persons as sole owner; payment or delivery of rights; actions of minor binding; no parental power to attach or transfer savings account of minor; death of minor. - A state savings bank operating under this chapter and a...
Section 34-30-1630. Account in name of two persons; joint tenancy; liability; payments during lifetime and upon death, deletion; refusal to honor request pending determination of rights; deposits of fiduciaries for beneficiaries; death of fiduciary;... - (A)(1) When a deposit account is held in a state...
Section 34-30-1640. Authority of attorneys-in-fact; notice of revocation of authority; liability. - A state savings bank or federal savings institution may continue...
Section 34-30-1650. Pledge or hypothecation of savings account in joint tenancy. - The pledge or hypothecation to a state savings bank of...
Section 34-30-1660. Adverse claims to accounts. - Notice to a state savings bank of an adverse claim...
Section 34-30-1670. Advance notice of intention to withdraw; inability to pay withdrawal requests, procedure; computation of earnings. - (A) A state savings bank reserves the right to require...
Section 34-30-1680. Redemption of savings accounts; notice; redemption price; cessation of earnings accrual; evidences of ownership, tender for payment or cancellation; closing of account. - When funds are on hand and adequate for that purpose,...
Section 34-30-1690. Entities authorized to invest funds in deposit accounts; deposit of securities; bond; provisions supplemental. - (A) Administrators, executors, custodians, personal representatives, conservators, guardians, trustees, and...
Section 34-30-1700. Checks refused for payment, insufficient funds; processing fees. - Notwithstanding other law, a state savings bank may charge and...
Section 34-30-1720. Absolute or conditional transfer of rights; evidence of transfer; application for transfer; terms of acceptance. - The owner of a deposit account may transfer the owner's...
Section 34-30-1730. Authorization of board and officers to borrow money. - A state savings bank, in its articles of incorporation or...
Section 34-30-1740. State savings bank subscription in capital stock, membership in federal reserve bank; supervision and examination; disclosure of information. - A state savings bank may subscribe to the capital stock...
Section 34-30-1750. Powers to acquire and be acquired. - A state savings bank and its holding company shall have...
Section 34-30-1950. Ownership of stock savings bank by holding company; conversion; reorganization by stock and mutual state savings banks; organization of mutual holding companies, articles of incorporation, ownership of voting stock; investments. - (A) Notwithstanding other law, a stock state savings bank, simultaneously...
Section 34-30-1960. Acquisition of control of state savings bank or holding company; supervision of holding company; rules or regulations. - A company or person may not acquire control of a...