In addition to all other requirements, no bank or banking institution of any nature shall be granted a charter by the Secretary of State unless and until the State Board of Bank Control has certified that the paid-in capital of such bank or banking institution is sufficient to qualify such bank or banking institution for membership in the Federal Deposit Insurance Fund. HISTORY: 1962 Code Section 8-146; 1952 Code Section 8-146; 1942 Code Section 7833; 1939 (41) 216; 1940 (41) 1774.
South Carolina Legal Code