South Carolina Statutes
§ 34-26-640 — Meetings of board; frequency of meetings.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 26 SOUTH CAROLINA CREDIT UNION ACT
(A)The board of directors shall meet as often as necessary and at least quarterly.
(B)Unless the bylaws provide otherwise, one regular meeting each calendar year must be conducted in person. If a quorum is present in person for the annual in person meeting, then the remaining board members may participate using audio or video teleconference methods. The other regular meetings may be conducted using audio or video teleconference methods.
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Legislative History
HISTORY: 1996 Act No. 371, SECTION 1, eff May 29, 1996; 2018 Act No. 186 (S.337), SECTION 3, eff May 15, 2018; 2021 Act No. 30 (S.467), SECTION 16, eff May 6, 2021. Effect of Amendment 2018 Act No. 186, SECTION 3, inserted the (A) designator and added (B), relating to meeting requirements. 2021 Act No. 30, SECTION 16, in (A), substituted "as often as necessary and at least quarterly" for "at least monthly and at other times as is necessary".
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.