H*3691 Session 108 (1989-1990)
H*3691(Rat #0417, Act #0378 of 1990) General Bill, By Harvin, R.L. Altman,
Bailey, J.J. Bailey, Barfield, J. Brown, R.B. Brown, T.M. Burriss, M.J. Cooper,
K.S. Corbett, R.S. Corning, J.G. Felder, T. Ferguson, Glover, B.J. Gordon,
P.B. Harris, B.H. Harwell, Keegan, H.H. Keyserling, T.A. Limehouse,
J.E. Lockemy, T.T. Mappus, Martin, J.G. Mattos, F.E. McBride, A.C. McGinnis,
M. McLeod, D.A. Moss, J.H. Nesbitt, J. Rama, Rhoad, I.K. Rudnick, Sharpe,
J.J. Snow, Townsend, C.Y. Waites, C.C. Wells, L.S. Whipper and Wilkes
A Bill to amend Section 34-13-80, Code of Laws of South Carolina, 1976,
relating to limitations on loans to directors and officers of banks
incorporated under the laws of this State, so as to provide that directors and
officers of state banks may borrow or obtain credit from these banks in the
same manner and under the same terms and conditions that directors and
officers of national banks are permitted to borrow or obtain credit from these
national banks as provided by law.
03/15/89 House Introduced and read first time HJ-5
03/15/89 House Referred to Committee on Labor, Commerce and
Industry HJ-6
01/24/90 House Committee report: Favorable Labor, Commerce and
Industry HJ-3
01/25/90 House Read second time HJ-32
01/25/90 House Unanimous consent for third reading on next
legislative day HJ-34
01/26/90 House Read third time and sent to Senate HJ-2
01/30/90 Senate Introduced and read first time SJ-18
01/30/90 Senate Referred to Committee on Banking and Insurance SJ-1
02/22/90 Senate Committee report: Favorable Banking and Insurance SJ-12
02/27/90 Senate Read second time SJ-16
02/27/90 Senate Unanimous consent for third reading on next
legislative day SJ-16
02/28/90 Senate Read third time and enrolled SJ-16
03/13/90 Ratified R 417
03/19/90 Signed By Governor
03/19/90 Effective date 03/19/90
03/19/90 Act No. 378
03/27/90 Copies available
(A378, R417, H3691)
AN ACT TO AMEND SECTION 34-13-80, CODE OF LAWS OF SOUTH CAROLINA,
1976, RELATING TO LIMITATIONS ON LOANS TO DIRECTORS AND OFFICERS OF
BANKS INCORPORATED UNDER THE LAWS OF THIS STATE, SO AS TO PROVIDE THAT
DIRECTORS AND OFFICERS OF STATE BANKS MAY BORROW OR OBTAIN CREDIT FROM
THESE BANKS IN THE SAME MANNER AND UNDER THE SAME TERMS AND CONDITIONS
THAT DIRECTORS AND OFFICERS OF NATIONAL BANKS ARE PERMITTED TO BORROW
OR OBTAIN CREDIT FROM THESE NATIONAL BANKS AS PROVIDED BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
Loans to directors and officers of state banks
SECTION 1. Section 34-13-80 of the 1976 Code is amended to read:
"Section 34-13-80. Directors and officers of any bank
incorporated under the laws of this State, members of their families,
and entities with which they are associated, may borrow or obtain
credit from the bank in the same manner and under the same terms and
conditions that directors and officers, members of their families, and
entities with which they are associated, of any national bank are
permitted to borrow or obtain credit from the national bank as
provided by law."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 19th day of March, 1990.
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