reglab/housing_qa huggingface dataset:
SC Code § 34-30-1100 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1100. Exemption of directors or officers from personal liability; limitations; breach of duty of loyalty defined.

 (A) Notwithstanding another provision of this chapter, a state savings bank, in its articles of incorporation or bylaws, may provide that a director or officer is not liable personally, or is liable only to the extent provided, to the state savings bank or its depositors or members or stockholders for damages for breach of a duty owed to the savings bank or its depositors or members, except that the provision does not relieve an officer or director from liability for an act or omission:  (1) in breach of the person's duty of loyalty to the state savings bank or its depositors, members, or stockholders;  (2) not in good faith or involving a knowing violation of law; or  (3) resulting in receipt by the person of an improper personal benefit.  (B) As used in this section, an act or omission in breach of a person's duty of loyalty means one which that person knows or believes to be contrary to the best interests of the state savings bank or its depositors in connection with a matter in which he has a material conflict of interest.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1210 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1210. Permitted loans.

 (A) A state savings bank may lend funds:  (1) on the security of deposit accounts, but no loan shall exceed the withdrawal value of the pledged deposit account;  (2) on the security of real property:  (a) of a value, determined in accordance with this chapter and appraisal rules or regulations as the board may adopt sufficient to provide good and ample security for the loan;  (b) with a fee simple title or a leasehold title of no less duration than ten years beyond the maturity of the loan;  (c) with the security interest in the real estate evidenced by an appropriate written instrument and the loan evidenced by a note, bond, or similar written instrument. A loan on the security of the whole of the beneficial interest in a land trust satisfies the requirements of this subitem if the title to the land is held by a corporate trustee and if the real estate held in the land trust meets the other requirements of this item;  (3) for the purpose of repair, improvement, rehabilitation, furnishing, or equipment of real estate;  (4) the purpose of financing or refinancing an existing ownership interest, in certificates of stock, certificates of beneficial interest, or other evidence of an ownership interest in, and a proprietary lease from, a corporation, trust, or partnership formed for the purpose of the cooperative ownership of real estate, secured by the assignment or transfer of the certificates or other evidence of ownership of the borrower;  (5) for the purchase of loans that, at the time of purchase, the state savings bank is authorized to make in accordance with this chapter;  (6) for the purchase of installment contracts for the sale of real estate, and title to it that is subject to the contract, but in each instance only if the state savings bank, at the time of purchase, is authorized to make a mortgage loan of the same amount and for the same length of time on the security of the real estate;  (7) for the purchase of loans guaranteed or insured, wholly or in part, by the United States or any of its instrumentalities;  (8) for secured or unsecured financing for business, corporate, personal, family, or household purposes, or for secured or unsecured loans for agricultural or commercial purposes, subject to rules or regulations as the board adopts;  (9) for the purpose of mobile home financing;  (10) for a loan secured by not more than ninety percent of the cash surrender value of a life insurance policy;  (11) for a loan on collateral that is a legal investment if made by the state savings bank under this chapter.  (B) Notwithstanding any provision of this chapter to the contrary, a state savings bank may make any loans within the lending limits prescribed that the state savings bank could make if it were incorporated and operating as a federal association or federal savings bank or as a state or national bank.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1220 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1220. Loan procedures; report of actions; loans on collateral; unsecured loans; investment of funds; sale of loans.

 (A) The board of directors shall establish procedures by which loans are to be considered, approved, and made by the state savings bank.  (B) All actions on loan applications to the state savings bank must be reported to the board of directors at its next meeting.  (C) Subject to rules or regulations as the board considers appropriate, a state savings bank may lend funds on collateral considered sufficient by the board of directors to secure loans properly. Loans made solely upon security of collateral consisting of stock or equity securities that are not listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market are considered loans without security.  (D) A state savings bank may lend funds without requiring security. An unsecured loan shall not exceed the maximum amount authorized by rules or regulations of the board.  (E) A state savings bank may invest funds on hand in the purchase of loans of a type that the state savings bank could make in accordance with this chapter.  (F) A state savings bank may invest in a participating interest in loans of a type that the state savings bank could make in accordance with this chapter.  (G) A state savings bank may sell a loan, including a participating interest in a loan.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1230 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1230. Acceptance of own capital stock or mutual capital certificates as security prohibited.

 A state savings bank may not accept its own capital stock, or that of its holding company, or its own mutual capital certificates as security for loans made by the state savings bank.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1240 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1240. Condition of loan on specific contracts prohibited.

 A state savings bank or service corporation shall not require, as a condition of making a loan, that the borrower contract with any specific person or organization for particular services, except as otherwise permitted to national banking associations.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1250 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1250. Loan expenses; late payment charge; levy of payments.

 Pursuant to the provisions of the South Carolina Consumer Protection Code as contained in Title 37, a state savings bank may require borrowers to pay:  (1) all reasonable expenses incurred by the state savings bank in connection with making, closing, disbursing, extending, adjusting, or renewing loans.  (2) a charge for late payments made during the course of repayment of a loan.  The payments may be levied only upon the terms and conditions that are fixed by the state savings bank's board of directors and agreed to by the borrower in the loan contract.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1260 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1260. Repayment plan; written agreement required.

 Subject to rules or regulations as the board prescribes, a state savings bank must agree in writing with borrowers as to the method or plan by which an indebtedness must be repaid.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1270 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1270. Stringency of rules or regulations.

 The board may adopt rules or regulations no less stringent than the requirements of the appropriate federal regulatory authority to govern the making of loans to officers and directors, and their associates, and companies or other business entities controlled by them.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1280 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1280. Limitations on rules or regulations.

 A rule or regulation that the board adopts in respect to loans permitted to be made by state savings banks as necessary to assure that the loans are in keeping with sound lending practices and to promote the purposes of this chapter must not prohibit a state savings bank from making a loan that is a permitted loan for federal savings or federal association under federal regulatory authority or to a state or national bank.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1290 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1290. Loans or investments violating this chapter.

 Unless otherwise provided, every loan or other investment made in violation of this chapter is due and payable according to its terms and its obligation is not impaired if the violation consists only of the lending of an excessive sum of authorized security or of investing in an unauthorized investment.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1300 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1300. Limitation on total loans and extensions of credit; "person" defined; rules or regulations.

 (A) The total loans and extensions of credit, both direct and indirect, by a state savings bank to a person, other than a state, county, or municipality carrying the full faith and taxing power for money borrowed, outstanding at one time, shall not exceed fifteen percent of the net worth of the state savings bank.  (B) For purposes of this section, the term "person" includes an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or other form of entity not specifically listed in this subsection. A loan or extension of credit to one person includes loans made to other persons when the proceeds of the loans or extensions of credit are to be used for the direct benefit of the first person or when the persons are engaged in a common enterprise.  (C) The limitations of this section do not apply to loans secured by certificates of deposits or loans or obligations to the extent that they are secured or covered by guarantees or by commitments or agreements to take over or purchase them, made by any federal reserve bank or by the United States or any instrumentality of the United States, including a corporation wholly owned directly or indirectly by the United States. Those loans must not exceed fifty percent of the net worth of the savings bank.  (D) The board may adopt rules or regulations as necessary or appropriate, including rules or regulations to modify restrictions contained in this section, in order to render this section consistent with rules or regulations applicable to either federal savings banks or associations or national banks.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1310 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1310. Investments in real property; limitations.

 With the prior approval of the board, a state savings bank may invest in real property for the conduct of its business. The total investment in fixed assets must not exceed fifty percent of the state savings bank's net worth.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1320 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1320. Investments in obligations issued and guaranteed by federal government.

 A state savings bank may invest in an obligation issued and fully guaranteed in principal and interest by the United States government or an instrumentality of the United States.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1330 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1330. Investments in obligations issued and guaranteed by State.

 A state savings bank may invest in an obligation issued and fully guaranteed in principal and interest by the State or an instrumentality of the State.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1340 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1340. Investments in stock or bonds of Federal Home Loan Banks.

 A state savings bank may invest in the stock of the Federal Home Loan Bank of which the savings bank is a member, and in bonds or other evidences of indebtedness or obligation of a Federal Home Loan Bank.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1350 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1350. Investments in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts.

 A state savings bank may invest in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts of any banks, associations, credit unions, or state savings banks as are approved by the board of directors of the savings bank.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1360 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1360. Investments in stock of federal government sponsored enterprises.

 A state savings bank may invest in stock or other evidences of indebtedness or obligations of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or other federal government sponsored enterprise, or its successor.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1370 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1370. Investments in direct general obligations of state government, bonds payable from pledged revenues or earnings.

 A state savings bank may invest in bonds or other evidences of indebtedness that are direct general obligations of a state, county, city, town, village, school district, sanitation, or park district, or other political subdivision or municipal corporation in the top three rating bands of one of the national rating services. A state savings bank also may invest in bonds or other evidences of indebtedness that are payable from revenues or earnings specifically pledged for it, which are issued by a county or a political subdivision or municipal corporation of a county in this State up to the loan limitations of Section 34-30-1300.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1380 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1380. Investments in stock of corporations or state agencies which provide educational loans.

 A state savings bank may invest in stock or obligations of a corporation doing business in this State, or of an agency of this State or of the United States, where the principal business of the corporation or agency is to make loans for the financing of a college or university education, or education at an industrial education center, technical institute, or community college.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1390 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1390. Investments in stock of business or industrial development corporations.

 A state savings bank may invest in stock or other evidence of indebtedness or obligations of business or industrial development corporations chartered by this State or by the United States.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1400 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1400. Investments in stock of urban renewal investment corporations.

 A state savings bank may invest in stock or other evidence of indebtedness or obligations of an urban renewal investment corporation chartered under the laws of this State or of the United States.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1410 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1410. Limitations on loans and investments in commercial loans.

 Subject to rules or regulations that the board considers appropriate, a state savings bank may lend and invest no more than fifty percent of its total assets in commercial loans. A commercial loan is for business, commercial, corporate, and agricultural purposes.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1420 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1420. Establishment of service corporations; investments in securities of existing service corporations; limitations; audit and examination; report of proposed activities, objections; office locations.

 (A) A state savings bank or group of savings institutions may establish service corporations. A state savings bank also may invest in the capital stock, obligations, or other securities of existing service corporations.  (B) A state savings bank may not make an investment in a service corporation in excess of ten percent of its net worth.  (C) A service corporation is subject to audit and examination by the board, and the service corporation must pay a supervisory fee established by the board.  (D) The proposed activities of a service corporation must be reported to the board, which has sixty days to object to the activities.  (E) The location of the principal and branch offices of a service corporation must be approved by the board.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1430 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1430. Loans or investments for federal associations or national banking associations located in State.

 With the prior approval of the board, a state savings bank may make a loan or investment, or engage in an activity, which may be permitted under state law for banks or pursuant to the laws of the United States for federal associations or national banking associations whose principal offices are located within this State.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
SC Code § 34-30-1440 (2021)
2021 South Carolina Code of Laws|Title 34 - Banking, Financial Institutions and Money|Chapter 30 - A State Savings Bank Charter In South Carolina|Section 34-30-1440. Authorized actions of state savings banks; issuance of capital notes, bonds, debentures, or other obligations or securities.

 (A) In addition to the powers granted in this chapter, but subject to rules or regulations that the board prescribes, a state savings bank incorporated or operated under this chapter may:  (1) with prior board notification, establish off the premises of a principal office or branch, a customer communications terminal, point of sale terminal, automated teller machine, automated or other direct or remote information processing device or machine, whether manned or unmanned, through or by means of which funds or information relating to a financial service or transaction rendered to the public is stored and transmitted, instantaneously or otherwise to or from a state savings bank terminal or terminals controlled or used by or with other parties. The establishment and use of a device or machine does not constitute a branch office, and the capital requirements and standards for approval of a branch office as provided in the statutes and regulations are not applicable to the establishment of an off-premises terminal, device, or machine. A state savings bank, through mutual consent, may share on-premises, unmanned, automated teller machines, and cash dispensers;  (2) issue credit cards, extend credit in connection with them, and otherwise engage in or participate in credit card operations;  (3) with prior board approval, act as a trustee, executor, board, guardian, or in another fiduciary capacity;  (4) become a member of a clearing house association and pledge assets required for its qualification;  (5) with the approval of the Commissioner of Banking, capital certificates may be issued by state-chartered savings banks and sold directly to subscribers or through underwriters, and the certificates constitute part of the general reserve and net worth of the issuing state savings bank, provided such certificates:  (a) are subordinate to all savings accounts, savings certificates, and debt obligations;  (b) constitute a claim in liquidation on the general reserves, surplus, and undivided profits of the state savings bank remaining after the payment of all savings accounts, savings certificates, and debt obligations;  (c) are entitled to the payment of dividends; and  (d) may have a fixed or variable dividend rate.  (6) service loans and investments for others.  (B) With the approval of the Commissioner of Banking, a state savings bank may issue capital notes, bonds, debentures, or other obligations or securities.  HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.