§ 34-1-190 — Decisions to uphold or overturn denial of applications; time limits; evidence; hearings; appeals.

South Carolina § 34-1-190

• Jurisdiction: South Carolina
• Title 34: BANKING, FINANCIAL INSTITUTIONS AND MONEY
• Ch. 1: STATE BOARD OF FINANCIAL INSTITUTIONS

Text

(A) The board shall decide whether to uphold or overturn its denial of an application within sixty days after receipt of the applicant's request for a hearing. However, if the board requests additional information from the applicant following receipt, the time limit for decision by the board must be the later of: (1) the date set forth in this subsection; or (2) thirty days after the board's receipt of the requested additional information. (B) The board shall consider oral testimony and any other information and evidence it considers appropriate, either written or oral. The board's review must be limited to a determination of whether the criteria pursuant to Section 34-1-180 has been met and whether the provisions of this chapter have been followed. (C) The board in its discretion may hold a public hearing in connection with its review if a significant issue of law or fact has been raised with respect to the proposed applicant. (D) If the board holds a public hearing within ninety days after receipt of the applicant's request for a hearing, the time limit specified in subsection (A) must be extended to thirty days after the conclusion of the public hearing. (E) If the board denies an application for a charter, the applicant may appeal the denial or approval containing the conditions to the Administrative Law Court pursuant to the rules of that court.

Legislative History

HISTORY: 2021 Act No. 30 (S.467), SECTION 1, eff May 6, 2021.