reglab/housing_qa huggingface dataset:
SC Code § 34-3-260 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-260. Transaction of business by wholly-owned subsidiary of state bank or trust company.

 Notwithstanding any other provision of the law, a wholly-owned subsidiary of a state bank or trust company, provided both subsidiary and the parent are corporations organized and existing pursuant to the laws of the State of South Carolina, shall hereafter be permitted to establish offices, operate and conduct such bank related business as authorized by its Articles of Incorporation (Charter) just as if it were not a wholly-owned subsidiary of a bank or trust company; provided, however, that the State Board of Financial Institutions shall impose upon such subsidiary, instructions, regulations and limitations with a view to effectuating maximum uniformity with those instructions, regulations and limitations imposed now and from time to time by law and regulation upon the organization and operation of any wholly-owned subsidiary of a bank holding company; provided, further, that nothing contained herein shall prevent the State Board of Financial Institutions, at any time in the future, from imposing upon such subsidiary such additional instructions, regulations and limitations as it deems appropriate to protect the assets of its parent.  HISTORY: 1979 Act No. 154 Section 1.
SC Code § 34-3-310 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-310. Examination of banks.

 The State Board of Bank Control may cause to be made at any time such examination of the affairs of any bank as it may deem necessary to inform it as to the financial condition of such bank and the Commissioner shall make a report thereon to the Board at the earliest practicable date.  HISTORY: 1962 Code Section 8-251; 1952 Code Section 8-251; 1942 Code Section 7829-7; 1936 (39) 1484.
SC Code § 34-3-320 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-320. Examination fees; number of examinations annually.

 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 twenty-four months of all banks and savings and loan associations.  HISTORY: 1962 Code Section 8-252; 1952 Code Section 8-252; 1942 Code Section 7829-5; 1936 (39) 1484, 1713; 1964 (53) 2069; 1980 Act No. 457; 1996 Act No. 329, Section 2, eff upon approval (became law without the Governor's signature on May 21, 1996).  Effect of Amendment  The 1996 amendment, in the last sentence, replaced "eighteen" with "twenty-four" preceding "months".
SC Code § 34-3-330 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-330. Federal examinations.

 Any examination made under the authority of any agency of the Federal Government may be accepted by the Board, in its discretion, as equivalent to an examination made under the terms of Section 34-3-320.  HISTORY: 1962 Code Section 8-254; 1952 Code Section 8-254; 1942 Code Section 7829-5; 1936 (39) 1484, 1713.
SC Code § 34-3-340 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-340. Reports and examinations by Federal Deposit Insurance Corporation.

 The Commissioner of Banking may also, in his discretion, accept any report which may have been obtained by the Federal Deposit Insurance Corporation relative to the condition of a banking institution within a reasonable period in lieu of a report authorized by the laws of this State to be required of such institution by his department, provided copies of such report are furnished to the Commissioner of Banking.  The Commissioner may furnish to the Corporation, or to any official or examiner thereof, a copy or copies of any or all examinations made of any such banking institutions and of any or all reports made by any of them and may give access to and disclose to the Corporation or any official or examiner thereof any and all information possessed by the office of the Commissioner with reference to the condition of affairs of any such insured institution.  Nothing in this section shall be construed to limit the duty of any banking institution in this State, deposits in which are to any extent insured under the provisions of Section 8 of the "Banking Act of 1933" (Section 12B of the Federal Reserve Act, as amended) or of any amendment of such act, its amendments or substitutions, or the requirements of the Corporation relative to examinations and reports nor to limit the powers of the Commissioner of Banking with reference to examinations and reports under existing law.  HISTORY: 1962 Code Section 8-255; 1952 Code Section 8-255; 1942 Code Section 7837; 1935 (39) 482; 1936 (39) 1484.
SC Code § 34-3-350 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-350. Directors shall review reports of examinations.

 Upon the examination of any state banking institution, the Commissioner of Banking shall, as soon as he can conveniently do so, forward a copy of the report of the examination to the chief executive of the bank who shall, within thirty days of receipt of the report, call a meeting of the directors of the bank for the purpose of reviewing the report and taking such action as is necessary. In forwarding such report to the chief executive, the commissioner shall use the form of notice contained in Section 34-3-360 and in certifying that such reports have been reviewed by the directors, the banking institution shall use the form contained in Section 34-3-370, and all directors who were present at the meeting shall sign the form contained in Section 34-3-370, certifying that they have received the report of the commissioner.  HISTORY: 1962 Code Section 8-256; 1952 Code Section 8-256; 1942 Code Section 7869; 1932 Code Section 7877; 1929 (36) 127; 1933 (38) 296; 1936 (39) 1484; 2021 Act No. 30 (S.467), Section 2, eff May 6, 2021.  Effect of Amendment  2021 Act No. 30, Section 2, rewrote the section.
SC Code § 34-3-360 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-360. Form of notice to chief executive.

 The form of notice from the Commissioner of Banking to the chief executive of the bank referred to in Section 34-3-350 must be as follows:  To the Chief Executive: In accordance with the law I enclose a copy of the report of examination of your bank made __________, 20___, by the Commissioner of Banking, __________, with the request that it be considered at a meeting of your directors to be held within thirty days from this date and a record of the action taken thereon entered upon the minutes. Please also fill out and return the form attached.  Commissioner of Banking.  HISTORY: 1962 Code Section 8-257; 1952 Code Section 8-257; 1942 Code Section 7869; 1932 Code Section 7877; 1929 (36) 127; 1933 (38) 296; 1936 (39) 1484; 2021 Act No. 30 (S.467), Section 3, eff May 6, 2021.  Effect of Amendment  2021 Act No. 30, Section 3, rewrote the section.
SC Code § 34-3-370 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-370. Form of report to Commissioner of Banking.

 The form of report to the Commissioner of Banking referred to in Section 34-3-350 shall be as follows:  To the Commissioner of Banking:  The report of the recent examination of this bank has been received, was submitted to the directors at a board meeting held __________ and was duly considered and a record of the action taken made upon the minutes.  ( Chief Executive)  Name and location of bank.  We, the undersigned directors of __________ bank, have reviewed the report of the Commissioner of Banking under date of __________.  HISTORY: 1962 Code Section 8-258; 1952 Code Section 8-258; 1942 Code Section 7869; 1932 Code Section 7877; 1929 (36) 127; 1933 (38) 296; 1936 (39) 1484; 2021 Act No. 30 (S.467), Section 4, eff May 6, 2021.  Effect of Amendment  2021 Act No. 30, Section 4, substituted "Commissioner of Banking" for "State Board of Bank Control" in three places, and substituted "Chief Executive" for "President or Cashier".
SC Code § 34-3-380 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-380. Report of condition.

 All institutions doing business in this State in lending money and receiving deposits, under acts of incorporation granted by the State, under penalty of a forfeiture of their charters, shall provide when and as called for by the State Board of Financial Institutions, without previous notice, a correct report of the condition and business of the institution. The report must contain a statement under oath by the chief executive or chief financial officer of the institution of the amount of the capital stock paid in, the institution's total capital as compared to the minimum capital set forth in Section 34-9-40, deposits, discounts, property, and liabilities of the institution verified by two of the directors. This section applies to all private banking institutions whether chartered or not. The board shall accept in lieu of the report required by this section a report of condition filed with the federal banking agencies.  HISTORY: 1962 Code Section 8-259; 1952 Code Section 8-259; 1942 Code Section 7861; 1932 Code Sections 1354, 7858; Cr. C. '22 Sections 245, 3988; Cr. C. '12 Sections 255, 2642; Civ. C. '02 Section 1766; G. S. 1352; R. S. 1468; 1874 (15) 526; 1904 (24) 398; 1909 (26) 90; 1933 (36) 296; 1936 (39) 1484; 1985 Act No. 128, Section 3; 1995 Act No. 116, Section 1, eff (became law without the Governor's signature on June 13, 1995); 2021 Act No. 30 (S.467), Section 5, eff May 6, 2021.  Effect of Amendment  The 1995 amendment provided for submitting a report of condition filed with federal banking agencies in lieu of the report required by this section.  2021 Act No. 30, Section 5, in the second sentence, substituted "The report must" for "The report shall" and "chief executive or chief financial officer" for "president or cashier", inserted "the institution's total capital as compared to the minimum capital set forth in Section 34-9-40,", and substituted "two of the directors" for "three of the directors".
SC Code § 34-3-420 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-420. Statement shall be sent to Board; failure to report.

 The statements referred to in Section 34-3-380 shall be sent to the State Board of Financial Institutions within thirty days of the statement date requested and shall be in such form as may be required by the board. Any bank which fails to report within the time given, without excuse given to the board, shall be subject to a fine of ten dollars a day for each day's delay, collectible by the board in any court of competent jurisdiction.  HISTORY: 1962 Code Section 8-263; 1952 Code Section 8-263; 1942 Code Section 7862; 1932 Code Section 7860; Civ. C. '22 Section 3990; Civ. C. '12 Sections 2651, 2652; 1909 (26) 91; 1913 (28) 65; 1919 (31) 48; 1933 (38) 296; 1936 (39) 1484; 1943 (43) 167; 1995 Act No. 116, Section 2, eff (became law without the Governor's signature on June 13, 1995).  Effect of Amendment  The 1995 amendment revised the date the reports must be submitted, deleted the reference to Section 34-3-400, and substituted "State Board of Financial Institutions" for "State Board of Bank Control".
SC Code § 34-3-510 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-510. Records must be retained.

 Every bank shall retain its business records for such periods as are or may be prescribed by or in accordance with the terms of this article. Each bank shall retain permanently the minute books of meetings of its shareholders and directors and all records which the State Board of Bank Control shall, in accordance with the terms of this article, require to be retained permanently. All other bank records shall be retained for such periods as the Board shall, in accordance with the terms of this article, prescribe.  HISTORY: 1962 Code Section 8-265; 1960 (51) 1673; 1961 (52) 160.
SC Code § 34-3-520 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-520. Regulations classifying records.

 The State Board of Bank Control shall from time to time issue regulations classifying all records kept by banks and prescribing the period for which records of each class shall be retained. The periods may be permanent or for a lesser term of years. The regulations may from time to time be amended or repealed. Prior to issuing any such regulation, the Board shall consider:  (1) Actions at law and administrative proceedings in which the production of bank records might be necessary or desirable;  (2) State and Federal statutes of limitation applicable to such actions or proceedings;  (3) The availability of information contained in bank records from other sources; and  (4) Such other matters as the Board shall deem pertinent, in order that its regulations will require banks to retain their records for as short a period as is commensurate with the interests of bank customers and shareholders and of the people of this State in having bank records available.  HISTORY: 1962 Code Section 8-266; 1960 (51) 1673.
SC Code § 34-3-530 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-530. Destruction of records.

 Any bank may dispose of any records which have been retained for the period prescribed by or in accordance with the terms of this article for retention of records of its class, and shall thereafter be under no duty to procure such record in any action or proceeding. Whether or not in any given case destruction of such records prior to the minimum retention periods prescribed by or in accordance with the terms of this article constitutes negligence shall remain a question of fact to be determined by all circumstances in that case, and such earlier destruction shall not per se constitute negligence and no presumption of negligence shall arise therefrom.  HISTORY: 1962 Code Section 8-267; 1960 (51) 1673.
SC Code § 34-3-540 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-540. Copies and reproductions of bank records; admissibility in evidence.

 (A) Any corporation, institution, or association whose deposits are insured by the federal government or an agency or a nonprofit corporation that has been designated by the State to originate or hold educational loans made to or on behalf of students may cause promissory notes, checks, drafts, and records kept by the corporation, institution, association, or agency to be copied or reproduced by:  (1) photostatic, photographic, or microfilming process; or  (2) electronic graphic imaging through scanning, digitizing, or other means.  (B) These processes or means must correctly copy, reproduce, or form a medium for copying or reproducing the original record so that an accurate facsimile of the original can be printed or otherwise reproduced on paper, film, or similar medium. The reproduction is considered an original record for all purposes and must be treated as an original record in all courts or administrative agencies for the purpose of its admissibility into evidence, regardless of whether the institution retains or disposes of the original, provided that the original document otherwise qualified as a business record pursuant to the South Carolina Uniform Business Records as Evidence Act or the appropriate state or federal rules of evidence.  HISTORY: 1962 Code Section 8-268; 1956 (49) 1673; 1957 (50) 179; 1960 (51) 1673; 1985 Act No. 128, Section 4; 1995 Act No. 132, Section 1, eff June 28, 1995; 1998 Act No. 331, Section 1, eff June 9, 1998.  Effect of Amendment  The 1995 amendment revised the entities to which this section applies, and revised the manner in which records may be copied, reproduced and admitted into evidence.  The 1998 amendment designated the first paragraph and items (1) and (2) following it as subsection (A), and made a nonsubstantive change in that text; designated the remaining text as subsection (B); and in subsection (B), in the second sentence substituted "reproduction" for "printed reproduction", deleted the designator for item (1), and deleted item (2) requiring certification of the copy by the custodian.
SC Code § 34-3-550 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-550. Application of article.

 This article shall be applicable to banks and trust companies chartered under the laws of this State, and to the extent that they are not in contravention of any law or regulation of the United States, the provisions of such article shall apply and inure to the benefit of national banking associations doing business in this State.  HISTORY: 1962 Code Section 8-269; 1960 (51) 1673.
SC Code § 34-3-610 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-610. "Banking institution" defined.

 The term "banking institution," as used in this article shall be construed to mean any bank, trust company, bank and trust company, stock savings bank, mutual savings bank or cash depository which is now or may hereafter be organized under the laws of this State.  HISTORY: 1962 Code Section 8-271; 1952 Code Section 8-271; 1942 Code Section 7837; 1935 (39) 482; 1936 (39) 1484.
SC Code § 34-3-620 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-620. Relationship with Federal Deposit Insurance Corporation generally.

 Any banking institution organized under the laws of this State may, on the authority of its board of directors and upon approval of the State Board of Bank Control, enter into such contracts, incur such obligations and generally do and perform any and all such acts and things whatsoever as may be necessary or appropriate in order to take advantage of any and all memberships, loans, subscriptions, contracts, grants, rights or privileges which may at any time be available or inure to banking institutions or to their depositors, creditors, stockholders, conservators, receivers or liquidators by virtue of those provisions of Section 8 of the Federal "Banking Act of 1933" (Section 12B of the Federal Reserve Act, as amended) which establish the Federal Deposit Insurance Corporation and provide for the insurance of deposits or of any other provisions of that or of any other act or resolution of Congress to aid, regulate or safeguard banking institutions and their depositors including any amendments of such provisions or any substitutions therefor. And any such banking institution may also, upon approval of the State Board of Bank Control subscribe for and acquire any stock, debentures, bonds or other types of securities of the Federal Deposit Insurance Corporation and comply with the lawful regulations and requirements from time to time issued or made by such corporation.  HISTORY: 1962 Code Section 8-272; 1952 Code Section 8-272; 1942 Code Section 7837; 1935 (39) 482; 1936 (39) 1484.
SC Code § 34-3-630 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-630. Federal Deposit Insurance Corporation as receiver or liquidator.

 The Federal Deposit Insurance Corporation may, with the approval of the State Board of Bank Control, be and act without bond as receiver or liquidator of any banking institution the deposits in which are to any extent insured by the Corporation and which shall have been closed on account of inability to meet the demands of its depositors.  The State Board of Bank Control may, in the event of such closing, tender to the Corporation the appointment as receiver or liquidator of such banking institution and, if the Corporation accepts such appointment, it shall have all the powers and privileges provided by the laws of this State with respect to a receiver or liquidator of a banking institution, its depositors and other creditors and be subject to all the duties of such receiver or liquidator.  HISTORY: 1962 Code Section 8-273; 1952 Code Section 8-273; 1942 Code Section 7837; 1935 (39) 482; 1936 (39) 1484.
SC Code § 34-3-640 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-640. Assets pass to Federal Deposit Insurance Corporation on appointment as receiver of liquidator.

 Upon the acceptance of the appointment as receiver or liquidator as aforesaid by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall, with the consent of the Commissioner of Banking, pass to and vest in the Corporation.  HISTORY: 1962 Code Section 8-274; 1952 Code Section 8-274; 1942 Code Section 7837; 1935 (39) 482; 1934 (39) 1484.
SC Code § 34-3-650 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 3 - Banks And Banking Generally|Section 34-3-650. Federal Deposit Insurance Corporation subrogated to rights of depositors paid by it.

 Whenever any banking institution shall have been closed as aforesaid and the Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the Corporation, whether or not it shall become receiver or liquidator of such closed banking institution, shall be subrogated to all rights of the owners of such deposits against such closed banking institution in the same manner and to the same extent as subrogation of the Corporation is provided for in subsection (1) of Section 12B of the Federal Reserve Act, as amended (being Section 8 of the Federal "Banking Act of 1933") or in any amendments thereof or any substitutions therefor, in the case of the closing of a national bank. But the rights of depositors and other creditors of such closed institutions shall be determined in accordance with the applicable provisions of the laws of this State.  HISTORY: 1962 Code Section 8-275; 1952 Code Section 8-275; 1942 Code Section 7837; 1935 (39) 482; 1936 (39) 1484.