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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 5 - MANAGEMENT OF BANK BY CONSERVATORS
Section 34-5-140. Segregation and use under Section 34-5-80 of deposits not required after termination of conservatorship.
Universal Citation: SC Code § 34-5-140 (2017)
After fifteen days have elapsed from the time the affairs of the bank shall have been returned to its directors by the conservator either with or without a reorganization as provided in Section 34-5-110, the provisions of Section 34-5-80 with respect to the segregation of deposits received while a bank is in the hands of a conservator and with respect to the use of such deposits to liquidate the indebtedness of such bank shall no longer be effective.
HISTORY: 1962 Code Section 8-294; 1952 Code Section 8-294; 1942 Code Section 7829-7; 1936 (39) 1484.
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