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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 9 - BANK CAPITAL AND CAPITAL STOCK
Section 34-9-130. Reserve requirements of state banks.
Universal Citation: SC Code § 34-9-130 (2017)
Every state bank which is not a member of the Federal Reserve System shall maintain the same reserves against deposits as required for a state bank which is a member of the Federal Reserve System. These reserves must be maintained in the same kind of assets as required for member banks.
HISTORY: 1962 Code Section 8-154; 1952 Code Section 8-154; 1942 Code Section 7844; 1932 Code Section 7863; Civ. C. '22 Section 3993; Civ. C. '12 Section 2655; 1909 (26) 81; 1923 (33) 159; 1933 (38) 296; 1936 (39) 1484; 1953 (48) 357; 1980 Act No. 456; 1991 Act No. 125, Section 1, eff June 4, 1991.
Effect of Amendment
The 1991 amendment rewrote this section.
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