South Carolina Code of Regulations
Chapter 15 - STATE BOARD OF FINANCIAL INSTITUTIONS CONSUMER FINANCE DIVISION
Article 2 - COOPERATIVE CREDIT UNIONS
Section 15-42 - Authority to Engage in Activities Authorized for Federally Chartered Institutions

Universal Citation: SC Code Regs 15-42
Current through Register Vol. 47, No. 12, December 22, 2023

After making application to the Board of Bank Control and obtaining approval of the Board, State-chartered credit unions may establish branches, PROVIDED, the branch serves only those employees who have a common bond of employment.

State-chartered credit unions are hereby authorized to act as trustee or custodian of any trust authorized by the Federal Self-employed Individuals Tax Retirement Act of 1962, as amended (The Keogh-Smathers Act) and of 1974 (ERISA) Section 401(d) (Keogh-Smathers Act) or Section 408(a) which authorizes Individual Retirement Accounts (IRA).

Statutory Authority: 1976 Code Section 34-27-30

Disclaimer: These regulations may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.