The corporate credit union may require and accept security for loans to a member in the form of a pledge, assignment, hypothecation, or mortgage of any assets of the member or a guarantor.
S.C. Code Ann. § 34-26-1360
Acceptance of security for loans; pledges, assignments, hypothecation, or mortgages
1996 Act No. 371, SECTION 1, eff May 29, 1996.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.