South Carolina § 34-5-150 - Liquidation by conservator.
Full text of South Carolina South Carolina Code of Laws § 34-5-150 — Liquidation by conservator., with citation guidance and answers to common questions.
§ 34-5-150. Liquidation by conservator.
When the Board shall conclude that any bank for which a conservator has been appointed is insolvent or in imminent danger of insolvency and that it is necessary to liquidate such bank in order to protect the interests of depositors and creditors, it shall order the liquidation thereof. When liquidation shall have been so ordered such liquidation shall be under and by the conservator appointed for such bank and shall continue until the liquidation of such bank has been completed. Any such conservator shall be vested with the same powers and duties as receivers of banks under existing laws, except as in its discretion the Board shall fix or limit the liquidation expenses of such bank. The liquidation of all such banks shall be under such rules and regulations as may be prescribed by the Board and the conservator shall have the right to apply to a court of competent jurisdiction for direction and instruction on questions of law arising in the liquidation of any such bank.
HISTORY: 1962 Code SECTION 8-295; 1952 Code SECTION 8-295; 1942 Code SECTION 7829-8; 1936 (39) 1484.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-5-150
What does South Carolina Code of Laws § 34-5-150 cover?
Section 34-5-150 ("Liquidation by conservator.") 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 § 34-5-150?
A common citation format is "South Carolina Code of Laws § 34-5-150" (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 § 34-5-150 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.