South Carolina § 34-9-40 Minimum capital requirements.

South Carolina Statutes

§ 34-9-40 — Minimum capital requirements.

South Carolina § 34-9-40

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 9BANK CAPITAL AND CAPITAL STOCK

This text of South Carolina § 34-9-40 (Minimum capital requirements.) 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. § 34-9-40 (2026).

Text

Every banking company or corporation hereafter organized shall have a minimum capital in the amount required by the State Board of Financial Institutions. In determining the minimum amount the State Board of Financial Institutions shall give due consideration to the location of the proposed bank, the proposed bank's business plan, and the economic environment in which the proposed bank will operate.

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Every banking company or corporation hereafter organized shall have a minimum capital in the amount required by the State Board of Financial Institutions. In determining the minimum amount the State Board of Financial Institutions shall give due consideration to the location of the proposed bank, the proposed bank's business plan, and the economic environment in which the proposed bank will operate.

Legislative History

HISTORY: 1962 Code SECTION 8-144; 1952 Code SECTION 8-144; 1942 Code SECTION 7831; 1932 Code SECTION 7835; 1926 (34) 953; 1928 (35) 1301; 1936 (39) 1484; 2021 Act No. 30 (S.467), SECTION 11, eff May 6, 2021. Effect of Amendment 2021 Act No. 30, SECTION 11, rewrote the section.