S.C. Code Regs. § § 117-1550.1
Current through Register Vol. 48, 12, December 27, 2024
In accordance with Section 12-13-30, any additions to reserves which are required by law, regulation or direction of appropriate supervisory agency must be allowed as a deduction in determining net income but the burden is upon the savings and loan association and/or building and loan association to show what the regulatory agency required.
S.C. Code Regs. § 117-1550.1