Share accounts; par value; pledged shares.

  1. Law
  2. South Carolina Code of Laws
  3. Banking, Financial Institutions and Money
  4. South Carolina Credit Union Act
  5. Share accounts; par value; pledged shares.

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(1) Share accounts shall be subscribed to and paid for in such manner and amounts as the bylaws prescribe.

(2) The par value of shares shall be as prescribed in the bylaws.

(3) Shares may be pledged as security on any loan.

HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.


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