South Carolina Statutes
§ 34-26-420 — Powers incidental to purpose of credit union; limitations.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 26 SOUTH CAROLINA CREDIT UNION ACT
A credit union may exercise incidental powers to enable it to carry out its purposes. However, the powers granted by state law or regulation to a state-chartered credit union shall not exceed those provided by federal law to a federally chartered credit union.
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Legislative History
HISTORY: 1996 Act No. 371, SECTION 1, eff May 29, 1996; 2007 Act No. 51, SECTION 3, eff upon approval (became law without the Governor's signature on June 7, 2007). Effect of Amendment The 2007 amendment at the end of the second sentence substituted "to a federally chartered credit union" for "or regulation". ARTICLE 5 Membership
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.