South Carolina § 34-26-1330 - Application to form corporate credit union.
Full text of South Carolina South Carolina Code of Laws § 34-26-1330 — Application to form corporate credit union., with citation guidance and answers to common questions.
§ 34-26-1330. Application to form corporate credit union.
(1) Application to form a corporate credit union shall be made in writing to the Board of Financial Institutions. The application shall contain the names of at least ten percent of the credit unions in the proposed field of membership that have agreed to subscribe to shares in the corporate credit union at the time the application is made.
(2) The application shall be accompanied by articles of incorporation, bylaws, and a copy of the application for share insurance.
(3) The bylaws shall provide for the selection of a board of directors of at least five persons, all of whom shall be authorized representatives of members. The bylaws shall require those applying for membership to subscribe to membership shares or other shares, or both, in a minimum amount as specified in the bylaws.
HISTORY: 1996 Act No. 371, SECTION 1, eff May 29, 1996.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-26-1330
What does South Carolina Code of Laws § 34-26-1330 cover?
Section 34-26-1330 ("Application to form corporate credit union.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 34-26-1330?
A common citation format is "South Carolina Code of Laws § 34-26-1330" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 34-26-1330 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.