Can you summarize 32 SCCL Chapter 1, Article 1?
The provided legal document content consists of provisions related to gambling contracts, mortgages or other conveyances of land given to secure wagers, and notes, bills, bonds, judgments, mortgages, or other securities or conveyances given to secure wagers. The documents specify the legal actions that can be taken by individuals who have lost money or other things in gambling activities. It allows them to sue and recover the lost amount from the respective winners, along with treble the value and costs of the suit.
Can you summarize 32 SCCL Chapter 3?
This legal document, as stated in the South Carolina Code of Laws, specifically in the Contracts and Agents section, pertains to agreements that are required to be in writing and signed. It outlines five scenarios where no action can be brought unless the agreement or a memorandum or note thereof is in writing and signed by the party to be charged or an authorized person. These scenarios include charging an executor or administrator for damages, charging a person for the debt or default of another, charging a person for an agreement made in consideration of marriage, charging a person for a contract or sale of lands or any interest in them, and charging a person for an agreement not to be performed within one year.
Can you summarize 34 SCCL Chapter 13?
The legal document content provided covers various aspects related to bank loans and investments. It includes provisions governing the establishment and operations of bank service corporations, allowing banks to invest in such corporations up to a limit of ten percent of the bank’s capital and surplus. The document also allows banking institutions or trust companies to invest in or lend money on the security of various types of bonds and debentures related to farm loans, with specific eligible securities mentioned.
Can you summarize 34 SCCL Chapter 15?
This legal document, as per the South Carolina Code of Laws, governs the authority of a banking corporation or trust company to act as a fiduciary. The document specifies that a banking corporation or trust company authorized under this chapter to act as a fiduciary shall not be liable as a partner for acting as trustee of a partnership interest for minor beneficiaries, except to the extent of the assets in the trust.
Can you summarize 34 SCCL Chapter 21?
The legal documents found in the South Carolina Code of Laws pertain to trust institutions administering common trust funds. These documents outline the requirements for conducting an annual audit of the common trust fund, including the preparation of a financial report based on the audit. The financial report should include a list of investments, details of purchases and sales, income and disbursements, and any investments in default. The report must be filed with the appropriate regulatory authority and provided to account holders.
Can you summarize 34 SCCL Chapter 25, Article 1?
The provided legal document, known as the South Carolina Banking and Branching Efficiency Act of 1996, governs the acquisitions of banks by bank holding companies in South Carolina. It grants the board the authority to promulgate regulations, enter into agreements with other bank supervisory agencies or affiliated organizations, accept reports of examination or investigation from other agencies, enter into contracts with other agencies for examiner services, conduct joint examinations or enforcement actions, and assess supervisory and examination fees.
Can you summarize 34 SCCL Chapter 25?
The SOUTH CAROLINA BANKING AND BRANCHING EFFICIENCY ACT OF 1996 governs the establishment, maintenance, and operation of branches by South Carolina state banks in states other than South Carolina through interstate merger transactions. It requires South Carolina state banks to obtain prior approval from the board before engaging in an interstate merger transaction. The bank must file an application, pay the prescribed fee, and comply with the applicable provisions of the South Carolina Business Corporation Act of 1988.
Can you summarize 34 SCCL Chapter 26?
The South Carolina Credit Union Act covers a wide range of topics related to credit unions in South Carolina. It outlines the requirements for membership in a credit union, including common bond criteria and the process for adding additional occupation and association groups to a credit union’s field of membership. The Act also addresses reserve allocations for credit unions, specifying the establishment of regular reserves and special reserves to protect the interests of members.
Can you summarize 34 SCCL Chapter 3, Article 9?
This section of the South Carolina Code of Laws governs the relationship between banking institutions and the Federal Deposit Insurance Corporation (FDIC) in the event of closure. It allows the Commissioner of Banking or the receiver/liquidator of a closed institution, with the permission of the Commissioner of Banking, to borrow from the FDIC and provide assets of the institution as security for a loan. However, when the FDIC is acting as the receiver or liquidator, approval from a court of record is required for such a loan.
Can you summarize 34 SCCL Chapter 3?
The provided legal document content covers various aspects of banking and financial institutions in South Carolina. It governs the consolidation or merger of banks and trust companies, outlining the rights, powers, and duties transferred in such transactions. It also governs the relationship between banking institutions and the FDIC in the event of closure, allowing borrowing from the FDIC and sale of assets to the FDIC under certain conditions. The document further governs the copying and reproducing of bank records, making the reproduced records admissible in evidence.