Subject to rules or regulations that the board considers appropriate, a state savings bank may lend and invest no more than fifty percent of its total assets in commercial loans. A commercial loan is for business, commercial, corporate, and agricultural purposes.
S.C. Code Ann. § 34-30-1410
Limitations on loans and investments in commercial loans
1997 Act No. 90, SECTION 1, eff June 10, 1997.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.