2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 13 - BANK LOANS AND INVESTMENTS
Section 34-13-150. Investment of funds in Federal savings and loan associations, building and loan associations, and the like.
It shall be lawful for any building and loan association, bank, trust company or other financial institution operating or doing business in the State or under the laws of the State or the United States, any national bank or the receiver of any bank, trust company, building and loan association or other financial institution operating under the laws of this State or of the United States to invest its funds or the moneys in its custody or possession eligible for investment in the shares of any Federal savings and loan association or in the shares of any building and loan association organized and existing under the laws of this State when such shares are insured by the Federal Savings and Loan Insurance Corporation and also in the bonds or debentures issued by any Federal home loan bank or in the consolidated bonds or debentures issued by the Federal Home Loan Bank Board.
HISTORY: 1962 Code Section 8-236; 1952 Code Section 8-236; 1942 Code Section 9051-2; 1935 (39) 287.
