Terms Used In South Carolina Code 34-29-240

  • 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
  • Board: shall mean the State Board of Bank Control and its duly authorized deputies. See South Carolina Code 34-29-10
  • License: shall mean the privilege certificate issued by the Board under the authority of this chapter to conduct the business regulated by this chapter. See South Carolina Code 34-29-10
  • Person: shall mean an individual, partnership, association, corporation and all other legal and commercial entities. See South Carolina Code 34-29-10
Any person engaged in the business of lending on December 1, 1965, may be licensed under the provisions of this chapter; provided, he applies for and obtains a license from the Board of Bank Control within ninety days after August 7, 1966; and, provided, further, that such person meets the requirements of § 34-29-40 (b) (1) (2).