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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 27 - TRANSFER OF STOCK IN CUSTODY OF CLEARING CORPORATIONS
Section 33-27-10. Definitions.
Universal Citation: SC Code § 33-27-10 (2018)
For the purposes of this chapter:
"Clearing corporation" means a corporation, all of the capital stock of which is held by or for a national securities exchange registered under the Securities Exchange Act of 1934, as amended.
"Custodian" means a national bank, or a bank or trust company organized under or subject to the banking law, acting as custodian for a clearing corporation.
HISTORY: 1962 Code Section 12-17.31; 1965 (54) 550.
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