South Carolina Statutes
§ 34-28-360 — Prohibited acquisitions.
(a)Except as specifically permitted under Section 34-28-350, no South Carolina association, South Carolina savings and loan holding company, Southern Region association, or Southern Region savings and loan holding company having a South Carolina association subsidiary may acquire an association or savings and loan holding company which is not either a South Carolina savings and loan holding company or a Southern Region savings and loan holding company or an association which is not either a South Carolina association or a Southern Region association.
(b)Except as expressly permitted by federal law, no association which is not either a South Carolina association or a Southern Region association and no savings and loan holding company which is not either a South Carolina savings and loan h
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South Carolina § 34-28-360 (Prohibited acquisitions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1985 Act No. 124, SECTION 1.
Nearby Sections
15
§ 34-28-10
Short title of Articles 1 through 10.§ 34-28-110
Name of an association.§ 34-28-140
Bylaws.§ 34-28-150
Opening for business.§ 34-28-210
Conversion of federal association into state-chartered association without change of business form.§ 34-28-220
Conversion of a state or federal mutual association to a state capital stock association.§ 34-28-230
Power to reorganize, merge, consolidate, or sell assets out of the ordinary course of business.§ 34-28-240
Voluntary supervisory stock conversions.