South Carolina Statutes
§ 27-25-120 — Deposit of proceeds of sales.
South Carolina § 27-25-120
JurisdictionSouth Carolina
Title 27PROPERTY AND CONVEYANCES
Ch. 25ASSIGNMENTS FOR THE BENEFIT OF CREDITORS
This text of South Carolina § 27-25-120 (Deposit of proceeds of sales.) 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. § 27-25-120 (2026).
Text
The proceeds arising from the sales of the property assigned shall be deposited for safekeeping in a national bank within the State or some banking institution incorporated by the State, in the joint names of the assignee or assignees and agent or agents and subject to their joint drafts.
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Legislative History
HISTORY: 1962 Code SECTION 57-362; 1952 Code SECTION 57-362; 1942 Code SECTION 9102; 1932 Code SECTION 9102; Civ. C. '22 SECTION 5507; Civ. C. '12 SECTION 3728; Civ. C. '02 SECTION 2643; G. S. 2010; R. S. 2142; 1828 (6) 366.
Nearby Sections
15
§ 27-25-10
Assignment by insolvent debtor.§ 27-25-110
Appointment of umpire.§ 27-25-120
Deposit of proceeds of sales.§ 27-25-130
General powers of creditors.§ 27-25-140
Statements of proceedings.§ 27-25-160
Commissions allowed.§ 27-25-60
Calling creditors together.§ 27-25-80
Election of agents.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 27-25-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/25/27-25-120.