South Carolina Statutes
§ 31-1-440 — Receipt and disbursement of funds by trustee.
South Carolina § 31-1-440
This text of South Carolina § 31-1-440 (Receipt and disbursement of funds by trustee.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 31-1-440 (2026).
Text
A trustee to whom moneys are payable pursuant to requirements of the director made pursuant to item (6) of Section 31-1-410 shall receive such moneys and make payment therefrom for the acquisition of land, the construction of improvements and other items entering into the cost of land improvement upon presentation of draft, check or order signed by a proper officer of the corporation and, if required by the director, countersigned by the director or a person designated by the director for such purpose. Any funds remaining in the custody of such trustee after the completion of the project and payment or arrangement in a manner satisfactory to the director for payment in full thereof shall be paid to the corporation.
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Legislative History
HISTORY: 1962 Code SECTION 36-34; 1952 Code SECTION 36-34; 1942 Code SECTION 5271-8; 1933 (38) 176; 1993 Act No. 181, SECTION 500.
Nearby Sections
15
§ 31-1-10
Short title.§ 31-1-130
Par value shares.§ 31-1-140
Declaration required in articles.§ 31-1-150
Income debentures.§ 31-1-170
Limited return on stock.§ 31-1-180
Limitations on actions by companies.§ 31-1-20
Declaration of legislative finding.§ 31-1-220
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Bluebook (online)
South Carolina § 31-1-440, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/1/31-1-440.