South Carolina § 11-43-140 - Board of directors; members; terms; vacancies.
Full text of South Carolina South Carolina Code of Laws § 11-43-140 — Board of directors; members; terms; vacancies., with citation guidance and answers to common questions.
§ 11-43-140. Board of directors; members; terms; vacancies.
The board of directors is the governing board of the bank. The board consists of seven voting directors as follows: the Chairman of the Department of Transportation Commission, ex officio; one director appointed by the Governor who shall serve as chairman; one director appointed by the Governor; one director appointed by the Speaker of the House of Representatives; one member of the House of Representatives appointed by the Speaker, ex officio; one director appointed by the President of the Senate; and one member of the Senate appointed by the President of the Senate, ex officio. Directors appointed by the Governor, the Speaker of the House, and the President of the Senate shall serve terms coterminous with those of their appointing authority. The terms for the legislative members are coterminous with their terms of office. The vice chairman must be elected by the board. Any person appointed to fill a vacancy must be appointed in the same manner as the original appointee for the remainder of the unexpired term.
HISTORY: 1997 Act No. 148, SECTION 2; 2019 Act No. 1 (S.2), SECTION 44, eff January 31, 2019.
Effect of Amendment
2019 Act No. 1, SECTION 44, in the second sentence, substituted "President of the Senate" for "President Pro Tempore of the Senate" in two places, and in the third sentence, substituted "the Speaker of the House, and the President of the Senate" for "the Speaker, and the President Pro Tempore".
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 11-43-140
What does South Carolina Code of Laws § 11-43-140 cover?
Section 11-43-140 ("Board of directors; members; terms; vacancies.") 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 § 11-43-140?
A common citation format is "South Carolina Code of Laws § 11-43-140" (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 § 11-43-140 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.