South Carolina Statutes
§ 11-14-120 — Defeasance of assumed debt.
South Carolina § 11-14-120
JurisdictionSouth Carolina
Title 11PUBLIC FINANCE
Ch. 14DEFEASANCE OF OUTSTANDING PUBLIC BONDS, NOTES, AND OTHER OBLIGATIONS
This text of South Carolina § 11-14-120 (Defeasance of assumed debt.) 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. § 11-14-120 (2026).
Text
In all instances where all or any portion of the debt of one public agency or political unit has been assumed by another public agency or political unit, it shall be presumed that the assumed obligations will be appropriately paid by the public agency or political unit assuming such debt and the unpaid debt shall be deemed to have been defeased to the same extent as debt defeased in the manner provided for in SECTION 11-14-110.
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Legislative History
HISTORY: 1981 Act No. 179 SECTION 13.
Nearby Sections
3
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Bluebook (online)
South Carolina § 11-14-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/14/11-14-120.