South Carolina Statutes
§ 34-26-880 — Credit union participation in federal or state loan programs; other powers.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 26 SOUTH CAROLINA CREDIT UNION ACT
(1)A credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law under which such a program is provided.
(2)A credit union may purchase conditional sales contracts, notes, and similar instruments of its members.
(3)A credit union may finance for any person by way of installment sales contract the sale of the credit union's property, including property obtained as a result of defaults in obligations owed to it.
(4)A credit union may engage in the leasing of personal property to its members.
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South Carolina § 34-26-880 (Credit union participation in federal or state loan programs; other powers.) — 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.