2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 30 - A STATE SAVINGS BANK CHARTER IN SOUTH CAROLINA
Section 34-30-560. Failure of examination to disclose complete financial condition; audit of examination; revaluation of assets or liabilities; expenses.
(A) If, in the opinion of the board, an examination conducted under Section 34-30-550 fails to disclose the complete financial condition of a state savings bank, the board, in order to ascertain its complete financial condition, may make an extended:
(1) audit of examination of the state savings bank or cause an audit or examination to be made by an independent auditor at the expense of the state savings bank; and
(2) revaluation of the assets or liabilities of the state savings bank or cause an independent appraiser to make a revaluation at the expense of the state savings bank.
(B) The board may collect from the state savings bank a reasonable sum for actual or necessary expenses of revaluation or audit of examination.
HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
