South Carolina Statutes
§ 34-26-280 — Conflict of interest; prohibitions respecting board or commissioner's office employees and credit unions.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 26 SOUTH CAROLINA CREDIT UNION ACT
(1)No employee of the South Carolina Board of Financial Institutions or the commissioner's office shall be an officer, director, or attorney for any credit union incorporated under this chapter, or, except as provided in subsection (2), receive, directly or indirectly, any payment or gratuity from any such credit union.
(2)Subsection (1) does not prohibit any such person from being a shareholder or depositor in a credit union incorporated under this chapter on the same terms as are available to other members.
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South Carolina § 34-26-280 (Conflict of interest; prohibitions respecting board or commissioner's office employees and credit unions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1996 Act No. 371, SECTION 1, eff May 29, 1996. ARTICLE 3 Formation of Credit Union
Nearby Sections
15
§ 34-26-100
Short title.§ 34-26-1010
Designation of depositories.§ 34-26-1020
Permissible investments of credit union funds.§ 34-26-110
Definitions.§ 34-26-1120
Special reserves.§ 34-26-1210
Merger.§ 34-26-1300
Corporate credit union.§ 34-26-1310
Purposes of corporate credit union.§ 34-26-1320
Corporate credit union membership.§ 34-26-1330
Application to form corporate credit union.