South Carolina Statutes
§ 34-25-60 — Time for decision; public hearing.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 25 SOUTH CAROLINA BANKING AND BRANCHING EFFICIENCY ACT
(a)The board shall decide whether to approve an acquisition under this article within sixty days after receipt of a completed application. However, if the board requests additional information from the applicant following receipt of a completed application, the time limit for decision by the board shall be the later of:
(1)the date set forth in this subsection (a); or (2) thirty days after the board's receipt of the requested additional information.
(b)The board in its discretion may hold a public hearing in connection with an application if a significant issue of law or fact has been raised with respect to the proposed acquisition.
(c)If the board holds a public hearing within ninety days after receipt of an application, the time limit specified in subsection (a) shall be extended to
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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.