South Carolina Statutes
§ 34-9-40 — Minimum capital requirements.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 9 BANK CAPITAL AND CAPITAL STOCK
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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South Carolina § 34-9-40 (Minimum capital requirements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.
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Repealed.§ 34-9-80
Repealed.