South Carolina Statutes
§ 59-125-360 — Faith and credit of State.
The faith and credit of the State may not be 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 trustees nor any other person signing the bonds is personally liable for them.
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South Carolina § 59-125-360 (Faith and credit of State.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1996 Act No. 399, SECTION 2.
Nearby Sections
15
§ 59-125-10
Establishment of Winthrop College.§ 59-125-100
Division into departments.§ 59-125-120
Degrees and diplomas.§ 59-125-20
Composition of board of trustees.§ 59-125-30
Election of board members; terms; vacancies.§ 59-125-310
Purpose.§ 59-125-320
Definitions.§ 59-125-330
Acquisition and improvement of facilities.§ 59-125-340
Authority to bond.§ 59-125-350
Securement of repayment.§ 59-125-360
Faith and credit of State.§ 59-125-370
Tenor, terms, and conditions of bonds.