Exhibit 5.1 and 23.1
LEATHERWOOD WALKER TODD & MANN, P.C.
JOHN E. JOHNSTON, JR. HARVEY G. SANDERS, JR. DAVID A. QUATTLEBAUM III JOSEPH E. MAJOR DUKE K. MCCALL, JR. EARLE G. PREVOST J. RICHARD KELLY A. MARVIN QUATTLEBAUM JACK H. TEDARDS, JR. F. MARION HUGHES MICHAEL J. GIESE MARK R. HOLMES WILLIAM L. DENNIS NATALMA M. MCKNEW ROBERT A. DEHOLL RICHARD L. FEW, JR. STEVEN E. FARRAR NANCY HYDER ROBINSON RUSSELL D. GHENT H. GIBERT SANDERS, III THOMAS W. EPTING MATTHEW H. HENRIKSON JAMES L. ROGERS, JR DAVID E. HODGE FRANK C. WILLIAMS III WILLIAM L. PITMAN* ROBERT D. MOSELEY, JR JAMES T. HEWITT | KURT M. ROZELSKY J. TOD HYCHE LAUREL R.S. BLAIR JAMILE J. FRANCIS III JOHN P. RIORDAN DANIEL C. PATTERSON SEANN GRAY TZOUVELEKAS LANGDON CHEVES III WILLIAM B. SWENT LAURIN MILFORD MCDONALD MICHELE FULLER LYERLY PETER A. RUTLEDGE PAUL E. HAMMACK PETER B. BYFORD CARI V. HICKS MARY H. ABEL J. KURT SCHUMACHER, JR.** JONATHAN D. HAMMOND JENNIFER ADAMSON MOORHEAD ALEXANDRE N. MACCLENAHAN J. DERHAM COLE, JR. ERIKA B. NEWSOM ZANDRA L. JOHNSON S. BROOKE CHAPMAN JESSICA L. ANDERSON P. GRIFFIN BELL THOMAS M. LARKIN REBECCA H. ZABEL | ATTORNEYS AT LAW THE LEATHERWOOD PLAZA 300 EAST MCBEE AVENUE, SUITE 500 GREENVILLE, SOUTH CAROLINA 29601 FAX: (864) 240-2477 TELEPHONE: (864) 242-6440
September 30, 2005 | Mailing Address: Post Office Box 87 Greenville, SC 29602-0087
COUNSEL: J.D. TODD, JR. JAMES H. WATSON J. BRANTLEY PHILLIPS, JR.
D.B. LEATHERWOOD 1896-1989 WESLEY M. WALKER 1915-1999 FLETCHER C. MANN 1921-2003
WRITER’S Direct Dial: 864-240-24973 Direct Fax: 864-240-2479 E-Mail: rfew@lwtm.com |
| * | Admitted in the Commonwealth of Virginia only |
| ** | Admitted in the Commonwealth of Massachusetts only |
Board of Directors
Greer Bancshares Incorporated
1111 W. Poinsett St.
Greer, SC 29650
Ladies and Gentlemen:
This letter is delivered to you in connection with the actions taken and proposed to be taken by Greer Bancshares Incorporated, a South Carolina corporation (the “Company”), with respect to the offer and sale from time to time pursuant to the Greer State Bank Employee Incentive Stock Option Plan (the “Plan) of common stock of the Company (the “Common Stock”) in accordance with the terms of the Plan. We have reviewed the Registration Statement on Form S-8 (the “Registration Statement”) to be filed by the Company with the Securities and Exchange Commission to effect the registration of the Common Stock under the Securities Act of 1933, as amended.
We have examined such corporate proceedings, records and documents as we considered necessary for the purposes of this opinion.
We are admitted to practice only in the State of South Carolina and the opinion expressed herein is limited in all respects to the application of the law of the State of South Carolina and federal laws of the United States and no opinion is expressed herein as to the laws of any other jurisdiction.
Based on the foregoing, and subject to the limitations and qualifications set forth herein, it is our opinion that the aforementioned shares of Common Stock, when issued against payment therefor pursuant to the Registration Statement and the Plan, will be legally issued, fully paid and non-assessable under the laws of the State of South Carolina.
Our opinion is expressed as of the date hereof, and we do not assume any obligation to update or supplement our opinion to reflect any fact or circumstance subsequently arising or any
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change in law subsequently occurring after such date. We hereby consent to the filing of this opinion with the Commission as an exhibit to the Registration Statement.
Very truly yours, | ||
LEATHERWOOD WALKER TODD & MANN, P.C. | ||
By: | /s/ Richard L. Few, Jr. | |
| Richard L. Few, Jr. | ||