There is a newer version
of
this Section
2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 9 - BANK CAPITAL AND CAPITAL STOCK
Section 34-9-110. Capital notes and debentures shall be included in capital.
Universal Citation: SC Code § 34-9-110 (2017)
The term "capital" as used in the laws of this State relating to banking shall be construed to embrace the amount of outstanding capital notes and debentures legally issued by any banking institution. The capital stock of any such banking institution may be deemed to be unimpaired when the amount of such capital notes and debentures as represented by cash or sound assets exceed the impairment as found by the Commissioner of Banking.
HISTORY: 1962 Code Section 8-152; 1952 Code Section 8-152; 1942 Code Section 7836; 1935 (39) 464; 1964 (53) 2058.
Disclaimer: These codes may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
