South Carolina Statutes
§ 34-3-630 — Federal Deposit Insurance Corporation as receiver or liquidator.
The Federal Deposit Insurance Corporation may, with the approval of the State Board of Bank Control, be and act without bond as receiver or liquidator of any banking institution the deposits in which are to any extent insured by the Corporation and which shall have been closed on account of inability to meet the demands of its depositors. The State Board of Bank Control may, in the event of such closing, tender to the Corporation the appointment as receiver or liquidator of such banking institution and, if the Corporation accepts such appointment, it shall have all the powers and privileges provided by the laws of this State with respect to a receiver or liquidator of a banking institution, its depositors and other creditors and be subject to all the duties of such receiver or liquidator.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 34-3-630 (Federal Deposit Insurance Corporation as receiver or liquidator.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-273; 1952 Code SECTION 8-273; 1942 Code SECTION 7837; 1935 (39) 482; 1936 (39) 1484.
Nearby Sections
15
§ 34-3-210
General powers of banking corporation.§ 34-3-230
Directors may make and change bylaws.§ 34-3-240
Other powers of directors.§ 34-3-310
Examination of banks.§ 34-3-330
Federal examinations.