South Carolina Statutes
§ 34-33-40 — Repurchase of capital stock.
Notwithstanding any provision of Title 34 of the 1976 Code, a banker's bank may repurchase, for its own account, shares of its own capital stock, but the outstanding capital stock may not be reduced below the minimum required by law without the prior approval of the State Board of Financial Institutions.
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South Carolina § 34-33-40 (Repurchase of capital stock.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1985 Act No. 46 SECTION 4.
Nearby Sections
6
§ 34-33-10
"Banker's bank" defined.§ 34-33-20
Formation of corporation.§ 34-33-40
Repurchase of capital stock.§ 34-33-50
Exemption from banking laws.