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Can you summarize SCSR Section 15-29?

Banking, Commercial Paper and Finance > Loans to Officers and Directors.

Short Summary

(Statutory Authority: 1976 Code 34-1-110) Loans to officers and directors of a state bank shall be approved by two-thirds vote of the whole board of directors of the bank within ninety (90) days of the date of the note or any subsequent renewals thereof.

Jurisdiction

South Carolina

Source
SCSR Section 15-29 [https://reggi.cloud.regology.com/regulations/US-SCSR/US-SCSR_C_15_A_1_S_29]