South Carolina § 34-28-310 Act requiring prior approval of the board.

South Carolina Statutes

§ 34-28-310 — Act requiring prior approval of the board.

South Carolina § 34-28-310

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 28SAVINGS ASSOCIATIONS

This text of South Carolina § 34-28-310 (Act requiring prior approval of the board.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 34-28-310 (2026).

Text

With the prior approval of the board in accordance with Section 34-28-340(a) and (b) and upon receipt of approval from all other applicable state and federal regulatory authorities having approval authority over the transaction:

(1)A company may become a South Carolina savings and loan holding company;

(2)A South Carolina savings and loan holding company may acquire a South Carolina association or another South Carolina savings and loan holding company;

(3)A South Carolina savings and loan holding company may acquire a Southern Region association or a Southern Region savings and loan holding company;

(4)A South Carolina savings and loan holding company may acquire an association and savings and loan holding company having association offices which are located outside of the Southern Re

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With the prior approval of the board in accordance with Section 34-28-340(a) and (b) and upon receipt of approval from all other applicable state and federal regulatory authorities having approval authority over the transaction: (1) A company may become a South Carolina savings and loan holding company; (2) A South Carolina savings and loan holding company may acquire a South Carolina association or another South Carolina savings and loan holding company; (3) A South Carolina savings and loan holding company may acquire a Southern Region association or a Southern Region savings and loan holding company; (4) A South Carolina savings and loan holding company may acquire an association and savings and loan holding company having association offices which are located outside of the Southern Region as is authorized under Section 34-28-350(1); (5) A Southern Region savings and loan holding company may acquire a Southern Region savings and loan holding company having a South Carolina association subsidiary; (6) A South Carolina state association may acquire a Southern Region association; (7) A Southern Region association may acquire a South Carolina state association; (8) A Southern Region savings and loan holding company may acquire a South Carolina association or a South Carolina savings and loan holding company.

Legislative History

HISTORY: 1985 Act No. 124, SECTION 1; 1990 Act No. 504, SECTION 1, eff May 30, 1990. Effect of Amendment The 1990 amendment added item (8) permitting a Southern Region savings and loan holding company to acquire a South Carolina association or savings and loan holding company.