South Carolina Statutes
§ 33-39-20 — Deposit of funds.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 39 COUNTY BUSINESS DEVELOPMENT CORPORATIONS
The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 33-39-20 (Deposit of funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-1202; 1960 (51) 1907.
Nearby Sections
15
§ 33-39-10
Definitions.§ 33-39-20
Deposit of funds.§ 33-39-210
Filing declaration of charter; contents.§ 33-39-240
Calling first meeting; organization; quorum.§ 33-39-250
Powers.§ 33-39-260
Amendment of charter.§ 33-39-30
Corporation shall not accept deposits.§ 33-39-420
Application for membership.§ 33-39-430
Duration of membership; withdrawal.§ 33-39-440
Powers of stockholders and members.