South Carolina Statutes
§ 8-13-1326 — Loans to candidates considered contributions; limitations; exceptions.
South Carolina·Title 8 PUBLIC OFFICERS AND EMPLOYEES·Ch. 13 ETHICS, GOVERNMENT ACCOUNTABILITY, AND CAMPAIGN REFORM
(A)A loan is considered a contribution from the maker or the guarantors of the loan and is subject to the contribution limitations of this article.
(B)A loan to a candidate must be by written agreement.
(C)The proceeds of a loan made to a candidate under the following conditions are not subject to the contribution limits of this article:
(1)by a commercial lending institution;
(2)in the regular course of business;
(3)on the same terms ordinarily available to members of the public; and (4) secured or guaranteed upon which collection is not made.
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South Carolina § 8-13-1326 (Loans to candidates considered contributions; limitations; exceptions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1991 Act No. 248, SECTION 3, eff January 1, 1992 and governs only transactions which take place after December 31, 1991.
Nearby Sections
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§ 8-13-100
Definitions.§ 8-13-1120
Contents of statement of economic interests.§ 8-13-1127
Legislative invitations committees to keep records of invitations accepted; public inspection.§ 8-13-1140
Filing of updated statement.§ 8-13-1150
Filing of statement by certain consultants.§ 8-13-1170
Technical violations of disclosure requirements; extensions of time for filing statements.§ 8-13-120
Fee for education and training programs.§ 8-13-130
Levying enforcement or administrative fees on persons in violation; use of fees and costs.§ 8-13-1300
Definitions.