2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 5 - MANAGEMENT OF BANK BY CONSERVATORS
Section 34-5-120. Publication of notice of reorganization.
Before the conservator shall return the affairs of the bank to its directors he shall cause to be published in a newspaper in the city, town or county in which such bank is located or, if no newspaper is published in such city, town or county, in a newspaper published in this State to be selected by the Board a notice in form approved by the Board, stating the date on which the affairs of the bank will be returned to its directors and that the provisions of Sections 34-5-70 and 34-5-80 will not be effective after the expiration of fifteen days from such date. On the date of the publication of such notice the conservator shall immediately send to every person who is a depositor in such bank under Section 34-5-80 a copy of such notice by registered mail addressed to the last known address of such person as shown by the records of the bank and the conservator shall send a similar notice in like manner to every person making deposits in such bank under Section 34-5-80 after the date of such newspaper publication and before the affairs of the bank are returned to its directors.
HISTORY: 1962 Code Section 8-292; 1952 Code Section 8-292; 1942 Code Section 7829-7; 1936 (39) 1484.
