Whenever it shall deem it necessary in order to conserve the assets of any bank for the benefit of the depositors and other creditors thereof the Board may appoint a conservator for any bank and require of him such bond and security as the Board deems proper.
Appointment of conservator of a bank
S.C. Code Ann. § 34-5-20, under Title 34, Chapter 5.
S.C. Code Ann. § 34-5-20