South Carolina § 34-26-660 - Purpose and composition of credit union supervisory committee; term of office.
Full text of South Carolina South Carolina Code of Laws § 34-26-660 — Purpose and composition of credit union supervisory committee; term of office., with citation guidance and answers to common questions.
§ 34-26-660. Purpose and composition of credit union supervisory committee; term of office.
(1) Each credit union shall have a supervisory committee. The supervisory committee shall make or cause to be made an annual audit of the credit union and shall submit a report of that audit to the board of directors and a summary of the report to the members at the next annual meeting of the credit union. The supervisory committee shall make or cause to be made such supplementary audits, examinations, and verifications of members' accounts as it deems necessary or as are required by the board or by the board of directors, and submit a report of these supplementary audits to the board of directors. It may investigate questions regarding the financial affairs of the credit union, and may by unanimous vote suspend any officer of the credit union or any member of the credit committee or the board of directors whom it might believe or suspect is failing to properly handle the credit union's financial affairs.
(2) The supervisory committee shall consist of three members to be elected by and from the membership. Elections shall be held at the annual meeting or in such other manner as the bylaws provide. All members of the supervisory committee shall hold office for such terms as the bylaws provide.
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 § 34-26-660
What does South Carolina Code of Laws § 34-26-660 cover?
Section 34-26-660 ("Purpose and composition of credit union supervisory committee; term of office.") 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 § 34-26-660?
A common citation format is "South Carolina Code of Laws § 34-26-660" (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 § 34-26-660 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.