South Carolina Statutes
§ 34-9-130 — Reserve requirements of state banks.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 9 BANK CAPITAL AND CAPITAL STOCK
Every state bank which is not a member of the Federal Reserve System shall maintain the same reserves against deposits as required for a state bank which is a member of the Federal Reserve System. These reserves must be maintained in the same kind of assets as required for member banks.
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Legislative History
HISTORY: 1962 Code SECTION 8-154; 1952 Code SECTION 8-154; 1942 Code SECTION 7844; 1932 Code SECTION 7863; Civ. C. '22 SECTION 3993; Civ. C. '12 SECTION 2655; 1909 (26) 81; 1923 (33) 159; 1933 (38) 296; 1936 (39) 1484; 1953 (48) 357; 1980 Act No. 456; 1991 Act No. 125, SECTION 1, eff June 4, 1991. Effect of Amendment The 1991 amendment rewrote this section.
Nearby Sections
12
§ 34-9-100
Issuance of capital notes or debentures.§ 34-9-130
Reserve requirements of state banks.§ 34-9-40
Minimum capital requirements.§ 34-9-70
Repealed.§ 34-9-80
Repealed.