South Carolina § 34-3-840 Directors and organization.

South Carolina Statutes

§ 34-3-840 — Directors and organization.

South Carolina § 34-3-840

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 3BANKS AND BANKING GENERALLY

This text of South Carolina § 34-3-840 (Directors and organization.) 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. § 34-3-840 (2026).

Text

Unless otherwise elected by the shareholders of the national banking corporation or state banking corporation, the directors and officers of the national banking corporation or state banking corporation in office at the time of its dissolution shall be the directors and officers of the bank created in pursuance of this article until the first annual election of directors and officers thereafter and may take all necessary measures to perfect its organization and to adopt such bylaws and regulations concerning its business and management as may be proper and not inconsistent with law.

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Unless otherwise elected by the shareholders of the national banking corporation or state banking corporation, the directors and officers of the national banking corporation or state banking corporation in office at the time of its dissolution shall be the directors and officers of the bank created in pursuance of this article until the first annual election of directors and officers thereafter and may take all necessary measures to perfect its organization and to adopt such bylaws and regulations concerning its business and management as may be proper and not inconsistent with law.

Legislative History

HISTORY: 1962 Code SECTION 8-124; 1952 Code SECTION 8-124; 1942 Code SECTION 7866; 1932 Code SECTION 7834; 1926 (34) 945; 2021 Act No. 30 (S.467), SECTION 9, eff May 6, 2021. Effect of Amendment 2021 Act No. 30, SECTION 9, at the beginning, substituted "Unless otherwise elected by the shareholders of the national banking corporation or state banking corporation, the" for "The" and inserted "or state banking corporation" following "national banking corporation".