{"data":{"id":"us-sc/s.c.-code-ann.-33-37-20","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 33-37-20","heading":"Deposit of funds.","body":"The corporation shall not deposit any of its funds in any banking institution unless the institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated.","path":["Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 37 Business Development Corporations","ARTICLE 1 General Provisions"],"source_url":"https://www.scstatehouse.gov/code/t33c037.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:04:09Z","sha256":"d2dd4d8efa2a84cfc143b8feb050828d72bf03fefbc5422c2869b4431760d530","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-33-37-10","next":"us-sc/s.c.-code-ann.-33-37-50"},"notice":"GroundRules: Original legal text. Not legal advice."}