AUG 14, 1979

On whether or not The State Bank Holding Company Act, Section 34–23–30(B) of the South Carolina Code of Laws, 1976, prohibits acquisition by a foreign bank holding company of more than 25% of voting shares of a South Carolina trust company which is engaged purely in the trust business.

Requested by: Mr. Grady L. Patterson, Jr., Chairman, South Carolina State Board of Financial Institutions.

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