Paid-in capital must meet Federal Deposit Insurance Fund requirements.

S.C. Code Ann. § 34-9-60
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
In addition to all other requirements, no bank or banking institution of any nature shall be granted a charter by the Secretary of State unless and until the State Board of Bank Control has certified that the paid-in capital of such bank or banking institution is sufficient to qualify such bank or banking institution for membership in the Federal Deposit Insurance Fund.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t34c009.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements