South Carolina Statutes
§ 11-14-130 — Defeasance not to impair obligations of contract between issuer and holder.
South Carolina § 11-14-130
JurisdictionSouth Carolina
Title 11PUBLIC FINANCE
Ch. 14DEFEASANCE OF OUTSTANDING PUBLIC BONDS, NOTES, AND OTHER OBLIGATIONS
This text of South Carolina § 11-14-130 (Defeasance not to impair obligations of contract between issuer and holder.) 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. § 11-14-130 (2026).
Text
It is not intended that any action pursuant to the authorization of this chapter shall impair any obligation of any contract between the issuer and any holder of any bond, note or other obligation of the issuer and, if for any reason any trust established shall fall, in whole or in part, to effect the payments intended or required to be made, or if in the instance of debt assumed as contemplated by SECTION 11-14-120, the public agency or political unit assuming such debt shall fail to pay such assumed debt, in whole or in part, then in each instance the issuer shall forthwith effect payment of such principal or interest through the means and in the manner originally provided.
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Legislative History
HISTORY: 1981 Act No. 179 SECTION 13.
Nearby Sections
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Bluebook (online)
South Carolina § 11-14-130, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/14/11-14-130.