South Carolina § 34-28-520 - Investments in service corporations.
Full text of South Carolina South Carolina Code of Laws § 34-28-520 — Investments in service corporations., with citation guidance and answers to common questions.
§ 34-28-520. Investments in service corporations.
(1) Every association shall have the power to invest in the capital stock, obligations or other securities of one or more service corporations, provided that at the time of any investment the aggregate amount paid for all the stock, obligations or other securities in service corporations by the association including the proposed investment shall not exceed ten percent of the assets of the association.
(2) A service corporation of an association may engage in third party real estate brokerage operations and in any business activity authorized for a service corporation of a federally chartered association by the Federal Home Loan Bank Board from time to time. If the Federal Home Loan Bank Board no longer authorizes a service corporation of a federally chartered association to engage in an activity which it had previously approved, an association may continue to engage in the activity if it receives Board approval to do so.
HISTORY: 1985 Act No. 124, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-28-520
What does South Carolina Code of Laws § 34-28-520 cover?
Section 34-28-520 ("Investments in service corporations.") 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 § 34-28-520?
A common citation format is "South Carolina Code of Laws § 34-28-520" (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 § 34-28-520 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.