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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 26 - SOUTH CAROLINA CREDIT UNION ACT
Section 34-26-880. Credit union participation in federal or state loan programs; other powers.
Universal Citation: SC Code § 34-26-880 (2017)
(1) A credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law under which such a program is provided.
(2) A credit union may purchase conditional sales contracts, notes, and similar instruments of its members.
(3) A credit union may finance for any person by way of installment sales contract the sale of the credit union's property, including property obtained as a result of defaults in obligations owed to it.
(4) A credit union may engage in the leasing of personal property to its members.
HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.
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