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South Carolina Credit Union Act
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South Carolina Code of Laws
Banking, Financial Institutions and Money
South Carolina Credit Union Act
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Section
34-26-100
Short title.
Section
34-26-110
Definitions.
Section
34-26-200
Responsibility of Board of Financial Institutions.
Section
34-26-210
Discretionary powers of board.
Section
34-26-220
Suspension of operations of bankrupt or insolvent credit union; liquidation of assets.
Section
34-26-230
Appointment of conservator of credit union assets by board or board designee; remedy of credit union to regain possession and control of assets.
Section
34-26-240
Duty of board to examine credit union; disclosure requirements of credit union officers and agents.
Section
34-26-250
Duty of credit union to maintain books, records, accounting systems, and procedures.
Section
34-26-260
Form of credit union annual report to board.
Section
34-26-270
Fees to defray administration, supervision, examination, and other expenses of annual examination of credit union.
Section
34-26-280
Conflict of interest; prohibitions respecting board or commissioner's office employees and credit unions.
Section
34-26-300
Application for credit union charter of incorporation; articles of incorporation and bylaws.
Section
34-26-310
Consideration of application; time period for approval or denial; factors considered.
Section
34-26-320
Model articles of incorporation to facilitate organization of credit unions.
Section
34-26-330
Amendment of articles of incorporation and bylaws.
Section
34-26-340
Name requirements of credit unions.
Section
34-26-350
Principal place of business of credit union; other locations.
Section
34-26-360
Fiscal year.
Section
34-26-370
Conduct of business in state by lawful out-of-state credit union; requirements of board approval.
Section
34-26-380
Conduct of business out-of-state by credit union; necessity of board approval.
Section
34-26-390
Exemption of credit union from business license tax.
Section
34-26-400
Particular powers of cooperative credit union; loans to other credit unions.
Section
34-26-410
Additional powers of credit union.
Section
34-26-420
Powers incidental to purpose of credit union; limitations.
Section
34-26-500
Requirements of membership; eligible groups; requirement of board approval.
Section
34-26-510
Organizations eligible for credit union membership.
Section
34-26-520
Eligibility of other credit unions.
Section
34-26-530
Application for membership; duty of board of directors; appeal of membership denial.
Section
34-26-540
Retention of membership.
Section
34-26-550
Member liability for credit union debt.
Section
34-26-560
Expulsion; request for hearing.
Section
34-26-570
Annual and other meetings of credit union membership.
Section
34-26-580
Special meetings; grounds and proceedings.
Section
34-26-600
Authority of board of directors.
Section
34-26-605
Membership of board; term of office; board appointment of credit committee.
Section
34-26-610
Filing of record of names and addresses of membership.
Section
34-26-615
Board vacancies; credit and supervisory committee vacancies.
Section
34-26-620
Prohibition against compensation for services; accident insurance; expenses.
Section
34-26-625
Conflicts of interest; limitation on persons with pecuniary interest.
Section
34-26-630
Election of officers.
Section
34-26-635
Appointment of executive committee.
Section
34-26-640
Meetings of board; frequency of meetings.
Section
34-26-645
Duties of board.
Section
34-26-650
Credit committee supervision of member loans.
Section
34-26-655
Appointment of credit committee loan officers.
Section
34-26-660
Purpose and composition of credit union supervisory committee; term of office.
Section
34-26-665
Suspension of member; supervisory committee report to board.
Section
34-26-670
Suspension or removal of supervisory committee member.
Section
34-26-700
Share accounts; par value; pledged shares.
Section
34-26-710
Dividends.
Section
34-26-720
Deposits.
Section
34-26-730
Withdrawal of deposited funds; withdrawal notice.
Section
34-26-740
Payments on share accounts.
Section
34-26-750
Ownership interests in share accounts; joint accounts.
Section
34-26-760
Share accounts held in trust; beneficiaries.
Section
34-26-770
Payable-on-death share accounts; effect of transfer of account.
Section
34-26-780
Account lien; right of set-off.
Section
34-26-790
Requirement of incorporators to apply for insurance prior to application for charter.
Section
34-26-800
Loans and lines of credit; establishment of written policies.
Section
34-26-810
Interest rates.
Section
34-26-820
Incidental fees and expenses.
Section
34-26-830
Loan application.
Section
34-26-840
Limitation of size of loan; in general.
Section
34-26-850
Limitation on loan advances by approved line of credit; periodic review.
Section
34-26-860
Limitation on size of loan secured by real estate; approved collateral.
Section
34-26-870
Credit union participation in joint loan with other credit union.
Section
34-26-880
Credit union participation in federal or state loan programs; other powers.
Section
34-26-890
Limitation on loans to directors and members of supervisory and credit committees.
Section
34-26-900
Provision of member services; in general.
Section
34-26-910
Insurance for officers, agents, and employees.
Section
34-26-920
Marketing arrangements.
Section
34-26-930
Collection, receipt, and disbursement in connection with negotiable instruments; automated services; fees.
Section
34-26-940
Retirement, pension, profit-sharing, and deferred income accounts.
Section
34-26-1000
Investment of credit union funds; investment committee.
Section
34-26-1010
Designation of depositories.
Section
34-26-1020
Permissible investments of credit union funds.
Section
34-26-1100
Determination of gross earnings; reservation of reserve; waiver of reserve requirement.
Section
34-26-1110
Permissible use of reserve; effect of liquidation of credit union.
Section
34-26-1120
Special reserves.
Section
34-26-1200
Dissolution; voluntary liquidation; distribution of assets.
Section
34-26-1210
Merger.
Section
34-26-1220
Conversion of credit union to organization under laws of another state or United States; requirement of member approval.
Section
34-26-1300
Corporate credit union.
Section
34-26-1310
Purposes of corporate credit union.
Section
34-26-1320
Corporate credit union membership.
Section
34-26-1330
Application to form corporate credit union.
Section
34-26-1340
Powers and privileges of corporate credit union.
Section
34-26-1350
Participation in National Credit Union Administration Central Liquidity Facility; other state and federal financial systems; agreements with third parties.
Section
34-26-1360
Acceptance of security for loans; pledges, assignments, hypothecation, or mortgages.
Section
34-26-1370
Board of directors of corporate credit union meetings.
Section
34-26-1380
Corporate credit union reserve requirements; exemptions.
Section
34-26-1390
Annual audit and report.