South Carolina Statutes

§ 13-12-180 — Net earnings of authority not to inure to benefit of person other than authority.

South Carolina § 13-12-180

JurisdictionSouth Carolina

Title 13PLANNING, RESEARCH AND DEVELOPMENT

Ch. 12TRIDENT ECONOMIC DEVELOPMENT FINANCE AUTHORITY

This text of South Carolina § 13-12-180 (Net earnings of authority not to inure to benefit of person other than authority.) 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. § 13-12-180 (2026).

Text

The net earnings of the authority, beyond that necessary for retirement of its bonds or other obligations or to implement the purposes of this chapter, may not inure to the benefit of any person other than the authority.

Free access — add to your briefcase to read the full text and ask questions with AI

Legislative History

HISTORY: 1992 Act No. 515, SECTION 1, eff September 1, 1992; 1992 Act No. 518, SECTION 1, eff September 2, 1992.

Nearby Sections

15

§ 13-12-10

Authority created; jurisdictional area; governing body; selection and terms of members; filling of vacancies.

§ 13-12-100

Notice of governing bodies' actions; call for election.

§ 13-12-110

Right to challenge action taken by county governing bodies.

§ 13-12-120

Manner of election; majority vote required.

§ 13-12-130

Issuance of bonds following authorization.

§ 13-12-15

Referendum in nonparticipating county whether to participate in authority.

§ 13-12-150

Signature and attestation of bonds and interest coupons.

§ 13-12-160

Resolutions, covenants, and agreements pertaining to issuance of bonds are binding; enforceability.

§ 13-12-170

General obligation bonds secured by full faith and credit and taxing power; revenue bonds of limited obligation; security; trustee of security agreement or indenture.

§ 13-12-180

Net earnings of authority not to inure to benefit of person other than authority.

§ 13-12-190

Carryover of unexpended funds from year to year.

§ 13-12-20

Officers of governing board; committees; meetings; quorum.

§ 13-12-200

Determinations required to be made by authority prior to undertaking projects; determinations to be set forth in record of proceedings.

§ 13-12-210

Disposition of proceeds from sale of bonds; what constitutes cost of acquiring project.

§ 13-12-220

Implementation contingent upon vote of electors in two or more of affected counties.

View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)

South Carolina § 13-12-180, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/12/13-12-180.