South Carolina Statutes
§ 48-23-230 — Liability of State for commission's obligations; source of funds for repayment.
The State is in no manner liable for any debt incurred under the terms of SECTION 48-23-220 but all such obligations shall be met by the State Forestry Commission out of moneys coming into its hands from the property pledged and at least fifty per cent of its income from sales, issues, rents, profits and leases shall be applied annually to the payment of principal and interest due on any such loan.
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South Carolina § 48-23-230 (Liability of State for commission's obligations; source of funds for repayment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 29-25; 1952 Code SECTION 29-25; 1942 Code SECTION 3284-1; 1933 (38) 503.
Nearby Sections
15
§ 48-23-10
State Commission of Forestry.§ 48-23-130
Acquisition of lands for state forests.§ 48-23-135
Authorization to borrow; amount and terms.§ 48-23-136
Pledge of revenue.§ 48-23-150
Disbursement of funds.§ 48-23-160
Sale, exchange, or lease of lands.§ 48-23-170
Execution of deeds, mortgages, or contracts.§ 48-23-180
Marking and tallying forestry products.