South Carolina Statutes
§ 34-25-260 — Findings of board.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 25 SOUTH CAROLINA BANKING AND BRANCHING EFFICIENCY ACT
An interstate merger transaction prior to June 1, 1997, involving a South Carolina bank shall not be consummated, and any out-of-state bank resulting from such a merger shall not operate any branch in South Carolina, unless the board first (i) finds that the laws of the home state of each out-of-state bank involved in the interstate merger transaction permits South Carolina state banks, under substantially the same terms and conditions as are set forth in this article, to acquire banks and establish and maintain branches in that state by means of interstate merger transactions, (ii) concludes that the resulting out-of-state bank has complied with all applicable requirements of South Carolina law and has agreed in writing to comply with the laws of this State applicable to its operation of
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South Carolina § 34-25-260 (Findings of board.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1996 Act No. 310, SECTION 2, eff July 1, 1996.
Nearby Sections
15
§ 34-25-10
Definitions.§ 34-25-100
Board authority.§ 34-25-20
Purpose.§ 34-25-210
Purpose.§ 34-25-220
Definitions.§ 34-25-250
Application.§ 34-25-260
Findings of board.§ 34-25-270
Applicable law.§ 34-25-280
Reporting; board authority.§ 34-25-290
Enforcement.§ 34-25-30
Board approval.§ 34-25-300
Promulgation of regulations.§ 34-25-310
Notice of transaction.