South Carolina Code 34-25-40. Application
(1) file with the board a copy of the notice or application that such company has filed with the responsible federal bank supervisory agency, together with such additional information as the board may prescribe; and
Terms Used In South Carolina Code 34-25-40
- bank: as used in this title must be construed to include all institutions doing any kind of banking business whose deposits are eligible for insurance by the Federal Deposit Insurance Corporation, excluding a savings bank, and "building and loan association" as used in this title must be construed to include a mutual or stock savings association, savings and loan association, or savings bank and all other institutions doing any kind of building and loan business whose deposits are eligible for insurance by the Federal Savings and Loan Insurance Corporation. See South Carolina Code 34-1-10
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Service of process: The service of writs or summonses to the appropriate party.
(2) pay to the board the application fee, if any, prescribed by the board.
(b) To the extent consistent with the effective discharge of the board’s responsibilities, the forms established under this article for application and reporting shall conform to those established by the Board of Governors of the Federal Reserve System under the Bank Holding Company Act.
(c) In connection with an application received under this article, the board shall:
(1) require that prior notice of the application be published once in a daily newspaper of general circulation in South Carolina and provide an opportunity for public comment; and
(2) make the application available for public inspection to the extent required or permitted under applicable state or federal law.
(d) If the applicant is an out-of-state bank holding company that is not incorporated under the laws of this State, it shall submit with the application proof that the applicant has complied with applicable requirements of § 33-15-101(a), or if not subject to § 33-15-101(a), has appointed an agent for service of process in the State of South Carolina.