State-chartered savings and loan associations are authorized to issue Mutual Capital Certificates under the same terms and conditions as permitted federally chartered savings and loan associations by Section 563.7-4 of the Federal Home Loan Bank Board Regulation Regulation 563 adopted by the Board on November 21, 1980, effective December 29, 1980.
S.C. Code Regs. 15-39A
Statutory Authority: 1976 Code Section 34-1-110