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27 chapters · 549 sections in this title.
S.C. Code Ann. § 34-9-130 Reserve requirements of state banks
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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…
S.C. Code Ann. § 34-9-20 Additional ten percent of capital must be paid in
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In addition to full payment for the capital stock proposed to be issued, the applicants for a charter for a banking corporation or company shall furnish satisfactory evidence to the State Board of Bank Control that an additional sum of ten percent of the proposed capital of the b…
S.C. Code Ann. § 34-9-30 Recovery of penalties for nonpayment of stock subscriptions and unpaid installments on subscriptions
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The penalties for the nonpayment of any stock subscriptions as prescribed in Section 34-3-240, together with any unpaid installments on such subscriptions, may be recovered in any court having jurisdiction of the aggregate amount so due or the stock may be sold for cash after twe…
S.C. Code Ann. § 34-9-40 Minimum capital requirements
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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 t…
