2014 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 30 - A STATE SAVINGS BANK CHARTER IN SOUTH CAROLINA
SECTION 34-30-410. Short form merger, consolidation, conversion, or combination merger and conversion.
Notwithstanding another provision of this chapter, to protect the public, including members, depositors, or stockholders of a state savings bank, the board, upon making a finding that a state savings bank is unable to operate in a safe and sound manner, may authorize or require a short form merger, consolidation, conversion, or combination merger and conversion of the state savings bank, or another transaction.
HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
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