# S.C. Code Ann. § 34-28-360: SECTION 34-28-360. Prohibited acquisitions

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T34_C28_A4_S34-28-360

## Section

- **Citation:** S.C. Code Ann. § 34-28-360
- **Heading:** SECTION 34-28-360. Prohibited 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 34-28-360

## Text

(a) Except as specifically permitted under Section 34-28-350, no South Carolina association, South Carolina savings and loan holding company, Southern Region association, or Southern Region savings and loan holding company having a South Carolina association subsidiary may acquire an association or savings and loan holding company which is not either a South Carolina savings and loan holding company or a Southern Region savings and loan holding company or an association which is not either a South Carolina association or a Southern Region association. (b) Except as expressly permitted by federal law, no association which is not either a South Carolina association or a Southern Region association and no savings and loan holding company which is not either a South Carolina savings and loan holding company or a Southern Region savings and loan holding company may acquire a South Carolina association, a South Carolina savings and loan holding company, or a Southern Region savings and loan holding company controlling a South Carolina association.

## 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_S34-28-360. Check the current official text before relying on it. Not legal advice.