South Carolina § 34-5-90 - Conservators may borrow to pay dividends or to reopen.
Full text of South Carolina South Carolina Code of Laws § 34-5-90 — Conservators may borrow to pay dividends or to reopen., with citation guidance and answers to common questions.
§ 34-5-90. Conservators may borrow to pay dividends or to reopen.
The Board may, for the purpose of securing funds to pay a dividend to depositors or for the purpose of reopening any bank, banking corporation or trust company operated by a conservator under the Board, authorize and empower any conservator to borrow such sum of money, in the corporate name of such bank, banking corporation or trust company, as the Board may order, and evidence such indebtedness by a note or notes, payable at such time as the notes may provide and bearing such interest rate or discount as may therein be provided, securing the payment of such note by a pledge of all or any of the assets of such bank, banking corporation or trust company in the hands of such conservator. Any note and the pledge of any securities, assets or other property of any such conservator made and delivered as herein provided shall be binding upon and constitute a liability of any such bank, banking institution or trust company.
HISTORY: 1962 Code SECTION 8-289; 1952 Code SECTION 8-289; 1942 Code SECTION 7829-13; 1934 (38) 1560; 1982 Act No. 385, SECTION 57(2)(c).
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-5-90
What does South Carolina Code of Laws § 34-5-90 cover?
Section 34-5-90 ("Conservators may borrow to pay dividends or to reopen.") 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 § 34-5-90?
A common citation format is "South Carolina Code of Laws § 34-5-90" (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 § 34-5-90 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.