South Carolina § 34-30-130 - Insurance on deposit accounts; certification; time for obtaining insurance; excess insurance.
Full text of South Carolina South Carolina Code of Laws § 34-30-130 — Insurance on deposit accounts; certification; time for obtaining insurance; excess insurance., with citation guidance and answers to common questions.
§ 34-30-130. Insurance on deposit accounts; certification; time for obtaining insurance; excess insurance.
A state savings bank must obtain and maintain insurance on the deposit accounts of all members and customers from an insurance corporation created by an act of Congress. Before licensing of a state savings bank, articles of incorporation duly recorded under Section 34-30-120(C), are sufficient certification to the insuring corporation that the state savings bank is a legal corporate entity. The insurance must be obtained within the time limit prescribed in Section 34-30-140. Subject to the rules or regulations of the board, a state savings bank may obtain or participate in efforts to obtain insurance of deposits that is in excess of the amount eligible for federal insurance of accounts. This insurance is known as "excess insurance".
HISTORY: 1997 Act No. 90, SECTION 1, eff June 10, 1997.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-30-130
What does South Carolina Code of Laws § 34-30-130 cover?
Section 34-30-130 ("Insurance on deposit accounts; certification; time for obtaining insurance; excess insurance.") 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 § 34-30-130?
A common citation format is "South Carolina Code of Laws § 34-30-130" (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 § 34-30-130 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.