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2014 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 26 - SOUTH CAROLINA CREDIT UNION ACT
SECTION 34-26-780. Account lien; right of set off.

SC Code § 34-26-780 (2014) What's This?

The credit union shall have a lien on the share accounts and accumulated dividends of a member for any sum owed the credit union by the member and for any loan endorsed by him. The credit union shall also have a right of immediate set-off with respect to every deposit account. The credit union may waive its right to a lien, to immediate set-off, to restrict withdrawals, or to any combination of such rights with respect to any share or deposit account or groups of such accounts.

HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.

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