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Can you summarize SCCL 34-5-70?

MANAGEMENT OF BANK BY CONSERVATORS > Withdrawal of deposits and payment of creditors.

Short Summary

While such bank is in the hands of a conservator the Board may require the conservator to set aside and make available for withdrawal by depositors and payment to other creditors, on a ratable basis, such amounts as in the opinion of the Board may safely be used for this purpose. HISTORY: 1962 Code Section 8-287; 1952 Code Section 8-287; 1942 Code Section 7829-7; 1936 (39) 1484.

Jurisdiction

South Carolina

Source
SCCL 34-5-70 [https://reggi.cloud.regology.com/regulations/US-SCCL/US-SCCL_T_34_C_5_S_70]