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Can you summarize SCCL 34-13-80?
BANK LOANS AND INVESTMENTS > Limitations on loans to directors and officers.
Short Summary
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. HISTORY: 1962 Code Section 8-228; 1952 Code Section 8-228; 1942 Code Section 7858; 1932 Code Section 7872; Civ. C. ‘22 Section 4000; Civ. C. ‘12 Section 2662; Civ. C. ‘02 Section 1777; R. S. 1540; 1885 (19) 212; 1897 (22) 463; 1914 (28) 487; 1918 (30) 880; 1923 (33) 161; 1962 (52) 1716; 1971 (57) 108; 1975 (59) 142; 1975 (59) 586; 1980 Act No. 304, Section 1; 1984 Act No. 391, Section 1; 1990 Act No. 378, Section 1, eff March 19, 1990. Effect of Amendment The 1990 amendment revised this section.
Jurisdiction
South Carolina