# S.C. Code Ann. § 34-28-350: SECTION 34-28-350. Permissible nondisqualified acquisitions

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-350

## Section

- **Citation:** S.C. Code Ann. § 34-28-350
- **Heading:** SECTION 34-28-350. Permissible nondisqualified acquisitions
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 34 / Chapter 28 / Article 4 / Section 34-28-350

## Text

A Southern Region association, a Southern Region savings and loan holding company, a South Carolina association, or a South Carolina savings and loan holding company may acquire or control, and does not cease to be a Southern Region association, a Southern Region savings and loan holding company, a South Carolina association, or South Carolina savings and loan holding company, respectively, by virtue of its acquisition or control of: (1) An association having offices in a state other than a Southern Region state, if the acquisition has been consummated pursuant to the provisions of Section 123 of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. Section 1730a(m); or (2) An association or savings and loan holding company other than as expressly permissible under subsection (1) of this section or under Sections 34-28-310 and 34-28-320 if: (a) Immediately following the consummation of the acquisition, the South Carolina association, South Carolina savings and loan holding company, Southern Region association, or Southern Region savings and loan holding company qualifies as such, and (b) The association or savings and loan holding company making the application complies with the approval and notification requirements in Sections 34-28-310 through 34-28-330.

## Nearby sections

- [S.C. Code Ann. § 34-28-300 SECTION 34-28-300. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-300.md)
- [S.C. Code Ann. § 34-28-310 SECTION 34-28-310. Act requiring prior approval of the board.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-310.md)
- [S.C. Code Ann. § 34-28-320 SECTION 34-28-320. Acts requiring prior approval of federal authorities.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-320.md)
- [S.C. Code Ann. § 34-28-330 SECTION 34-28-330. Savings and loan holding company acquisitions not requiring prior approval.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-330.md)
- [S.C. Code Ann. § 34-28-340 SECTION 34-28-340. Applications to the board for approval.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-340.md)
- [S.C. Code Ann. § 34-28-350 SECTION 34-28-350. Permissible nondisqualified acquisitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-350.md)
- [S.C. Code Ann. § 34-28-360 SECTION 34-28-360. Prohibited acquisitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-360.md)
- [S.C. Code Ann. § 34-28-370 SECTION 34-28-370. Person acquiring a South Carolina association or savings and loan holding company is subject to South Carolina laws.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-370.md)
- [S.C. Code Ann. § 34-28-380 SECTION 34-28-380. Registration of association; reports; regulations.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-380.md)
- [S.C. Code Ann. § 34-28-390 SECTION 34-28-390. Penalties and remedies.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-390.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-350. Check the current official text before relying on it. Not legal advice.