Home/South Carolina/Statutes/Title 34: BANKING, FINANCIAL INSTITUTIONS AND MONEY/Ch. 30: STATE SAVINGS BANK/§ 34-30-1230
South Carolina Statutes

§ 34-30-1230 — Acceptance of own capital stock or mutual capital certificates as security prohibited.

South Carolina § 34-30-1230
JurisdictionSouth Carolina
Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY
Ch. 30STATE SAVINGS BANK

This text of South Carolina § 34-30-1230 (Acceptance of own capital stock or mutual capital certificates as security prohibited.) 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. § 34-30-1230 (2026).

Text

A state savings bank may not accept its own capital stock, or that of its holding company, or its own mutual capital certificates as security for loans made by the state savings bank.

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Legislative History

HISTORY: 1997 Act No. 90, SECTION 1, eff June 10, 1997.

Nearby Sections

15
§ 34-30-10
Short title.
§ 34-30-100
Mutual state savings banks, stock state savings banks; approval of application; minimum pledges, adjustment, considerations.
§ 34-30-1000
Membership of mutual state savings banks.
§ 34-30-1010
Bank directors; election; terms; weighted voting; voting rights; election of stock savings bank directors; terms; ownership interest; number of directors; vacancies; restrictions.
§ 34-30-1020
Bylaws and amendments; certification; effective date; amendment.
§ 34-30-1030
Fiduciary duties of officers and directors; duties of good faith, diligence, and care.
§ 34-30-1040
Conflict of interest.
§ 34-30-1050
Voting rights; production of books of record; majority determination of questions.
§ 34-30-1060
Annual meetings; notice.
§ 34-30-1070
Special meetings; notice.
§ 34-30-1080
Quorum.
§ 34-30-1090
Blanket indemnity bond; bonding of agents; settlement; cancellation.
§ 34-30-110
Incomplete applications; time for approval or rejection of completed applications.
§ 34-30-1100
Exemption of directors or officers from personal liability; limitations; breach of duty of loyalty defined.
§ 34-30-120
Approval or disapproval of application; order; filing of articles; corporate existence; certificate of authorization, commencement of business; limitation on ownership or control.
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Bluebook (online)
South Carolina § 34-30-1230, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/30/34-30-1230.