South Carolina Statutes
§ 59-122-60 — State's faith and credit not pledged for payment; board members not personally liable.
The faith and credit of the State of South Carolina is not pledged for the payment of the principal and interest of the bonds, and there must be on the face of each bond a statement plainly worded to that effect. Neither the members of the board nor any other person signing the bonds are personally liable for them.
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South Carolina § 59-122-60 (State's faith and credit not pledged for payment; board members not personally liable.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1989 Act No. 102, SECTION 2.
Nearby Sections
13
§ 59-122-10
Definitions.§ 59-122-100
Investment in bonds by fiduciaries permitted.§ 59-122-110
Sale of bonds by board; notice.§ 59-122-120
Authority of board.§ 59-122-130
Time limitation for issuance of bonds.§ 59-122-30
Disposition of proceeds from sale of bonds.§ 59-122-40
Requirements for issuance of bonds.§ 59-122-50
Security for payment of bonds.§ 59-122-70
Issuance of bonds.§ 59-122-80
Bonds may be registered; debt by book-entry only system permitted; verification of bonds.§ 59-122-90
Bonds and interest exempt from taxation.