South Carolina § 34-30-560 Failure of examination to disclose complete financial condition; audit of examination; revaluation of assets or liabilities; expenses.

South Carolina Statutes

§ 34-30-560 — Failure of examination to disclose complete financial condition; audit of examination; revaluation of assets or liabilities; expenses.

South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 30 STATE SAVINGS BANK

(A)If, in the opinion of the board, an examination conducted under Section 34-30-550 fails to disclose the complete financial condition of a state savings bank, the board, in order to ascertain its complete financial condition, may make an extended:

(1)audit of examination of the state savings bank or cause an audit or examination to be made by an independent auditor at the expense of the state savings bank; and (2) revaluation of the assets or liabilities of the state savings bank or cause an independent appraiser to make a revaluation at the expense of the state savings bank.

(B)The board may collect from the state savings bank a reasonable sum for actual or necessary expenses of revaluation or audit of examination.

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(A) If, in the opinion of the board, an examination conducted under Section 34-30-550 fails to disclose the complete financial condition of a state savings bank, the board, in order to ascertain its complete financial condition, may make an extended: (1) audit of examination of the state savings bank or cause an audit or examination to be made by an independent auditor at the expense of the state savings bank; and (2) revaluation of the assets or liabilities of the state savings bank or cause an independent appraiser to make a revaluation at the expense of the state savings bank. (B) The board may collect from the state savings bank a reasonable sum for actual or necessary expenses of revaluation or audit of examination.

South Carolina § 34-30-560 (Failure of examination to disclose complete financial condition; audit of examination; revaluation of assets or liabilities; expenses.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.