South Carolina Statutes
§ 34-26-780 — Account lien; right of set-off.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 26 SOUTH CAROLINA CREDIT UNION ACT
The credit union shall have a lien on the share accounts and accumulated dividends of a member for any sum owed the credit union by the member and for any loan endorsed by him. The credit union shall also have a right of immediate set-off with respect to every deposit account. The credit union may waive its right to a lien, to immediate set-off, to restrict withdrawals, or to any combination of such rights with respect to any share or deposit account or groups of such accounts.
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South Carolina § 34-26-780 (Account lien; right of set-off.) — 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.
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.