South Carolina Code 34-28-320. Acts requiring prior approval of federal authorities
Current as of: 2023 | Check for updates
|
Other versions
With the prior approval of the Federal Home Loan Bank Board and other applicable federal authorities in accordance with their approval authority over the transaction and without the necessary approval of the Board except for the requirements under § 34-28-340(b):
(1) A South Carolina federal association may acquire a Southern Region association; and
Terms Used In South Carolina Code 34-28-320
- bank: as used in this title must be construed to include all institutions doing any kind of banking business whose deposits are eligible for insurance by the Federal Deposit Insurance Corporation, excluding a savings bank, and "building and loan association" as used in this title must be construed to include a mutual or stock savings association, savings and loan association, or savings bank and all other institutions doing any kind of building and loan business whose deposits are eligible for insurance by the Federal Savings and Loan Insurance Corporation. See South Carolina Code 34-1-10
(2) A Southern Region association may acquire a South Carolina federal association.