Unless otherwise elected by the shareholders of the national banking corporation or state banking corporation, the directors and officers of the national banking corporation or state banking corporation in office at the time of its dissolution shall be the directors and officers of the bank created in pursuance of this article until the first annual election of directors and officers thereafter and may take all necessary measures to perfect its organization and to adopt such bylaws and regulations concerning its business and management as may be proper and not inconsistent with law. HISTORY: 1962 Code Section 8-124; 1952 Code Section 8-124; 1942 Code Section 7866; 1932 Code Section 7834; 1926 (34) 945; 2021 Act No. 30 (S.467), Section 9, eff May 6, 2021.
South Carolina Legal Code