A credit union may exercise incidental powers to enable it to carry out its purposes. However, the powers granted by state law or regulation to a state-chartered credit union shall not exceed those provided by federal law to a federally chartered credit union.
S.C. Code Ann. § 34-26-420
Powers incidental to purpose of credit union; limitations
1996 Act No. 371, SECTION 1, eff May 29, 1996; 2007 Act No. 51, SECTION 3, eff upon approval (became law without the Governor's signature on June 7, 2007).
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.