Whenever it shall deem it necessary in order to conserve the assets of any bank for the benefit of the depositors and other creditors thereof the Board may appoint a conservator for any bank and require of him such bond and security as the Board deems proper.
S.C. Code Ann. § 34-5-20
Appointment of conservator of a bank
1962 Code SECTION 8-282; 1952 Code SECTION 8-282; 1942 Code SECTION 7829-7; 1936 (39) 1484.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.