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South Carolina Code > Title 34 > Chapter 26 - South Carolina Credit Union Act

South Carolina Code > Title 34 > Chapter 26 - South Carolina Credit Union Act


Current as of: 2009
§ 34-26-100Short title
§ 34-26-110Definition
§ 34-26-200Responsibility of Board of Financial Institutions
§ 34-26-210Discretionary powers of board
§ 34-26-220Suspension of operations of bankrupt or insolvent credit union; liquidation of assets
§ 34-26-230Appointment of conservator of credit union assets by board or board designee; remedy of credit union to regain possession and control of assets
§ 34-26-240Duty of board to examine credit union; disclosure requirements of credit union officers and agents
§ 34-26-250Duty of credit union to maintain books, records, accounting systems, and procedures
§ 34-26-260Form of credit union annual report to board
§ 34-26-270Fees to defray administration, supervision, examination and other expenses of annual examination of credit union
§ 34-26-280Conflict of interest; prohibitions respecting board or commissioner's office employees and credit unions
§ 34-26-300Application for credit union charter of incorporation; articles of incorporation and bylaws
§ 34-26-310Consideration of application; time period for approval or denial; factors considered
§ 34-26-320Model articles of incorporation to facilitate organization of credit unions
§ 34-26-330Amendment of articles of incorporation and bylaws
§ 34-26-340Name requirements of credit unions
§ 34-26-350Principal place of business of credit union; other locations
§ 34-26-360Fiscal year
§ 34-26-370Conduct of business in state by lawful out-of-State credit union; requirements of board approval
§ 34-26-380Conduct of business out of state by credit union; necessity of board approval
§ 34-26-390Exemption of credit union from business license tax
§ 34-26-400Particular powers of cooperative credit union; loans to other credit unions
§ 34-26-410Additional powers of credit union
§ 34-26-420Powers incidental to purpose of credit union; limitations
§ 34-26-500Requirements of membership; eligible groups; requirement of board approval
§ 34-26-510Organizations eligible for credit union membership
§ 34-26-520Eligibility of other credit unions
§ 34-26-530Application for membership; duty of board of directors; appeal of membership denial
§ 34-26-540Retention of membership
§ 34-26-550Member liability for credit union debt
§ 34-26-560Expulsion; request for hearing
§ 34-26-570Annual and other meetings of credit union membership
§ 34-26-580Special meetings; grounds and proceedings
§ 34-26-600Authority of board of directors
§ 34-26-605Membership of board; term of office; board appointment of credit committee
§ 34-26-610Filing of record of names and addresses of membership
§ 34-26-615Board vacancies; credit and supervisory committee vacancies
§ 34-26-620Prohibition against compensation for services; accident insurance; expenses
§ 34-26-625Conflicts of interest; limitation on persons with pecuniary interest
§ 34-26-630Election of officers
§ 34-26-635Appointment of executive committee
§ 34-26-640Meetings of board; frequency of meeting
§ 34-26-645Duties of board
§ 34-26-650Credit committee supervision of member loans
§ 34-26-655Appointment of credit committee loan officers
§ 34-26-660Purpose and composition of credit union supervisory committee; term of office
§ 34-26-665Suspension of member; supervisory committee report to board
§ 34-26-670Suspension or removal of supervisory committee member
§ 34-26-700Share accounts; par value; pledged shares
§ 34-26-710Dividends
§ 34-26-720Deposits
§ 34-26-730Withdrawal of deposited funds; withdrawal notice
§ 34-26-740Payments on share accounts
§ 34-26-750Ownership interests in share accounts; joint accounts
§ 34-26-760Share accounts held in trust; beneficiaries
§ 34-26-770Payable-on-death share accounts; effect of transfer of account
§ 34-26-780Account lien; right of set off
§ 34-26-790Requirement of incorporators to apply for insurance prior to application for charter
§ 34-26-800Loans and lines of credit; establishment of written policies
§ 34-26-810Interest rates
§ 34-26-820Incidental fees and expenses
§ 34-26-830Loan application
§ 34-26-840Limitation of size of loan; in general
§ 34-26-850Limitation on loan advances by approved line of credit; periodic review
§ 34-26-860Limitation on size of loan secured by real estate; approved collateral
§ 34-26-870Credit union participation in joint loan with other credit union
§ 34-26-880Credit union participation in federal or state loan programs; other powers
§ 34-26-890Limitation on loans to directors and members of supervisory and credit committees
§ 34-26-900Provision of member services; in general
§ 34-26-910Insurance for officers, agents, and employees
§ 34-26-920Marketing arrangements
§ 34-26-930Collection, receipt, and disbursement in connection with negotiable instruments; automated services; fees
§ 34-26-940Retirement, pension, profit-sharing, and deferred income accounts
§ 34-26-1000Investment of credit union funds; investment committee
§ 34-26-1010Designation of depositories
§ 34-26-1020Permissible investments of credit union funds
§ 34-26-1100Determination of gross earnings; reservation of reserve; waiver of reserve requirement
§ 34-26-1110Permissible use of reserve; effect of liquidation of credit union
§ 34-26-1120Special reserves
§ 34-26-1200Dissolution; voluntary liquidation; distribution of assets
§ 34-26-1210Merger
§ 34-26-1220Conversion of credit union to organization under laws of another state or United States; requirement of member approval
§ 34-26-1300Corporate credit union
§ 34-26-1310Purposes of corporate credit union
§ 34-26-1320Corporate credit union membership
§ 34-26-1330Application to form corporate credit union
§ 34-26-1340Powers and privileges of corporate credit union; in general
§ 34-26-1350Participation in National Credit union Administration Central Liquidity Facility; other state and federal financial systems; agreements with third parties
§ 34-26-1360Acceptance of security for loans; pledges, assignments, hypothecation, or mortgages
§ 34-26-1370Board of director of corporate credit union meetings
§ 34-26-1380Corporate credit union reserve requirements; exemptions
§ 34-26-1390Annual audit and report

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South Carolina Laws: Credit Unions

South Carolina Code > Title 34 > Chapter 26 - South Carolina Credit Union Act
South Carolina Code > Title 34 > Chapter 27 - Cooperative Credit Unions

U.S. Code Provisions: Credit Unions

U.S. Code > Title 12 > Chapter 14 - Federal Credit Unions

Federal Regulations: Credit Unions

U.S. Code > Title 12 > Chapter 14 - Federal Credit Unions
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