South Carolina Statutes
§ 38-19-640 — Repayment of more than one loan or by multiple agreement.
If there is more than one such loan or if any such loan is represented by multiple agreements, the loan agreement shall provide, in addition to any other time of repayment specified in it, that any part of the loan may be repaid at any time by selection by lot, under supervision of the director or his designee, of those loan agreements, out of all similar agreements then outstanding, to be then repaid in part or in whole.
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South Carolina § 38-19-640 (Repayment of more than one loan or by multiple agreement.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-11-840 [1947 (45) 322; 1952 Code SECTION 37-424; 1962 Code SECTION 37-424] recodified as SECTION 38-19-640 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 558.
Nearby Sections
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§ 38-19-10
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Liability of members; property pledged; lien.§ 38-19-1050
Limit of amount insurance.§ 38-19-1110
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Transition to domestic mutual insurance holding company system; membership interests of policyholders.§ 38-19-1130
Plan of reorganization; approval; contents.§ 38-19-1150
Policyholder meeting to vote on plan.§ 38-19-1180
Dividends and distributions; effect of adoption or implementation of plan of reorganization.§ 38-19-1190
Demutualization.