S*0187(Rat #0016, Act #0007 of 1983)  General Bill, By 
Senate Banking and Insurance

Similar(S 149)
 A Bill to amend Section 34-3-10, Code of Laws of South Carolina, 1976,
 relating to the use of the words "bank" or "banking" by others than banking
 institutions, so as to provide that a state-chartered savings and loan
 association may change its designation and name to a "savings bank" pursuant
 to the same authority and subject to the same rules and regulations that
 federally-chartered savings and loan associations are permitted to make such
 change according to the provisions of Public Law 97-320 (The Garn-St. Germain
 Depository Institutions Act of 1982).

   02/02/83  Senate Introduced, read first time, placed on calendar
                     without reference SJ-303
   02/03/83  Senate Read second time SJ-326
   02/04/83  Senate Read third time and sent to House SJ-332
   02/08/83  House  Introduced and read first time HJ-712
   02/08/83  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-712
   02/23/83  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-1111
   03/02/83  House  Read second time HJ-1259
   03/03/83  House  Read third time and enrolled HJ-1298
   03/10/83         Ratified R 16
   03/14/83         Signed By Governor
   03/14/83         Effective date 03/14/83
   03/14/83         Act No. 7
   03/16/83         Copies available

AN ACT TO AMEND SECTION 34-3-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE USE OF THE WORDS "BANK" OR "BANKING" BY OTHERS THAN BANKING INSTITUTIONS, SO AS TO PROVIDE THAT A STATE-CHARTERED SAVINGS AND LOAN ASSOCIATION MAY CHANGE ITS DESIGNATION AND NAME TO A "SAVINGS BANK" PURSUANT TO THE SAME AUTHORITY AND SUBJECT TO THE SAME RULES AND REGULATIONS THAT FEDERALLY-CHARTERED SAVINGS AND LOAN ASSOCIATIONS ARE PERMITTED TO MAKE SUCH CHANGE ACCORDING TO THE PROVISIONS OF PUBLIC LAW 97-320 (THE GARN-ST. GERMAIN DEPOSITORY INSTITUTIONS ACT OF 1982).

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

Use of words "bank" or "banking", etc.

SECTION 1. Section 34-3-10 of the 1976 Code is amended to read:

"Section 34-3-10. No person in this State shall use the word 'bank' or 'banking' in connection with any business, calling, or pursuit other than a legalized incorporated banking institution; provided, that a state-chartered savings and loan association may change its designation and name to a 'savings bank' pursuant to the same authority and subject to the same rules and regulations that federally-chartered savings and loan associations are permitted to make such change according to the provisions of Public Law 97-320 (the Garn-St. Germain Depository Institutions Act of 1982). Any person violating the provisions of this section is subject to a fine of not less than one thousand dollars and not more than ten thousand dollars and to imprisonment for not exceeding ten years nor less than one year, in the discretion of the court."

Time effective

SECTION 2. This act shall take effect upon approval by the Governor.