Section 34-25-220 - DefinitionsFor purposes of this article:
(1) "Bank" has the meaning set forth in 12 U.S.C. Section 1813. However, the term "bank" shall not include any "foreign bank" as defined in 12 U.S.C. Section 3101(7), except that this term shall include any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation.(2) "Bank holding company" has the meaning set forth in 12 U.S.C. Section 1841(a)(1).(3) "Bank supervisory agency" means: (a) any agency of another state with primary responsibility for chartering and supervising banks; and(b) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies.(4) "Branch" means any office at which a bank accepts deposits. The term "branch" does not include, however, the following:(a) unmanned automatic teller or loan machines, point of sale terminals, or other similar unmanned electronic banking facilities;(b) offices located outside the United States; or(c) loan production offices, representative offices, or other offices at which deposits are not accepted.(5) "Board" means the Board of Financial Institutions.(6) "Control" means and shall be construed consistently with the provisions of 12 U.S.C. Section 1841(a)(2).(7) "Deposit" has the meaning set forth in 12 U.S.C. Section 1813(1).(8) "Home state" means: (a) with respect to a state bank, the state by which the bank is chartered;(b) with respect to a national bank, the state in which the main office of the bank is located;(c) with respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U.S.C. Section 3103(c).(9) "Home state regulator" means, with respect to an out-of-state bank, the bank supervisory agency of the state in which such bank is chartered.(10) "Host state" means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch.(11) "Insured depository institution" has the meaning set forth in 12 U.S.C. Section 1813(h).(12) "Interstate merger transaction" means: (a) the merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or(b) the purchase of all or substantially all of the assets (including all or substantially all of the branches) of a bank whose home state is different from the home state of the acquiring bank.(13) "Out-of-state bank" means a bank whose home state is a state other than South Carolina.(14) "Out-of-state state bank" means a bank chartered under the laws of any state other than South Carolina.(15) "Resulting bank" means a bank that has resulted from an interstate merger transaction under this article.(16) "State" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.(17) "South Carolina bank" means a bank whose home state is South Carolina.(18) "South Carolina state bank" means a bank chartered under the laws of South Carolina.1996 Act No. 310, Section 2, eff 7/1/1996.