South Carolina § 34-13-70 Maximum amounts of loans; another maximum.

South Carolina Statutes

§ 34-13-70 — Maximum amounts of loans; another maximum.

South Carolina § 34-13-70

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 13BANK LOANS AND INVESTMENTS

This text of South Carolina § 34-13-70 (Maximum amounts of loans; another maximum.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 34-13-70 (2026).

Text

(A)In no case shall a loan be made by any state bank which when added to the then existing total loans to the borrower thereof would increase the total to more than twenty-five percent of the capital, surplus, and deposits of the bank, less the amount invested in real estate, bonds, or other securities.

(B)For purposes of this section, "loan" includes any credit exposure to a borrower arising from a derivative transaction, repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction between a bank and that borrower.

(C)For purposes of this section, "derivative transaction" means any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of any interest in, or an

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(A) In no case shall a loan be made by any state bank which when added to the then existing total loans to the borrower thereof would increase the total to more than twenty-five percent of the capital, surplus, and deposits of the bank, less the amount invested in real estate, bonds, or other securities. (B) For purposes of this section, "loan" includes any credit exposure to a borrower arising from a derivative transaction, repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction between a bank and that borrower. (C) For purposes of this section, "derivative transaction" means any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of any interest in, or any quantitative measure or the occurrence of any event relating to one or more commodities, securities, currencies, interest, or other rates, indices, or assets.

Legislative History

HISTORY: 1962 Code SECTION 8-227; 1952 Code SECTION 8-227; 1942 Code SECTION 7857; 1932 Code SECTION 7869; Civ. C. '22 SECTION 3999; Civ. C. '12 SECTION 2661; Civ. C. '02 SECTION 1776; R. S. 1539a; 1897 (22) 463; 1923 (33) 159; 1936 (39) 1495; 2012 Act No. 211, SECTION 2, eff June 7, 2012. Effect of Amendment The 2012 amendment inserted subsection designator (A), added subsections (B) and (C), and made other nonsubstantive changes.