South Carolina General Assembly
103rd Session, 1979-1980

Bill 981

                    Current Status

Bill Number:               981
Ratification Number:       541
Act Number                 457
Introducing Body:          Senate
Subject:                   Relating to examination of banks
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A457, R541, S981)

AN ACT TO AMEND SECTION 34-3-320, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXAMINATION OF BANKS, DEPOSITORIES AND BUILDING AND LOAN ASSOCIATIONS, SO AS TO DELETE DEPOSITORIES, CHANGE BUILDING AND LOAN ASSOCIATIONS TO SAVINGS AND LOAN ASSOCIATIONS AND REQUIRE THAT BANKS BE EXAMINED AT LEAST ONCE EVERY EIGHTEEN MONTHS INSTEAD OF TWICE ANNUALLY AND SAVINGS AND LOAN ASSOCIATIONS BE EXAMINED ONCE EVERY EIGHTEEN MONTHS INSTEAD OF ANNUALLY.

Be it enacted by the General Assembly of the State of South Carolina:

Examination fees

Section 1. Section 34-3-320 of the 1976 Code is amended to read:

"Section 34-3-320. The State Board of Financial Institutions shall fix the examination fees of banks and savings and loan associations on a scale which will yield sufficient revenue to defray the entire expense of examinations for each bank and savings and loan association.

Provided, that the Board shall make at least one examination every eighteen months of all banks and savings and loan associations."

Time effective

Section 2. This act shall take effect upon approval by the

Governor.