2014 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 30 - A STATE SAVINGS BANK CHARTER IN SOUTH CAROLINA
SECTION 34-30-1370. Investments in direct general obligations of state government, bonds payable from pledged revenues or earnings.
A state savings bank may invest in bonds or other evidences of indebtedness that are direct general obligations of a state, county, city, town, village, school district, sanitation, or park district, or other political subdivision or municipal corporation in the top three rating bands of one of the national rating services. A state savings bank also may invest in bonds or other evidences of indebtedness that are payable from revenues or earnings specifically pledged for it, which are issued by a county or a political subdivision or municipal corporation of a county in this State up to the loan limitations of Section 34-30-1300.
HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
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