South Carolina § 34-30-1450 Vesting of security ownership in parties other than original executors; dealings with successors in interest.

South Carolina Statutes

§ 34-30-1450 — Vesting of security ownership in parties other than original executors; dealings with successors in interest.

South Carolina § 34-30-1450

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 30STATE SAVINGS BANK

This text of South Carolina § 34-30-1450 (Vesting of security ownership in parties other than original executors; dealings with successors in interest.) 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. § 34-30-1450 (2026).

Text

With respect to an investment made by a state savings bank in a loan, if the ownership of the security for the loan or any part of it becomes vested in a person other than the parties originally executing the security instruments, and provided there is not an agreement in writing to the contrary, the association, without notice to the original parties, may deal with the successors in interest with reference to the security and debt secured in the same manner as if the property were owned by the original parties, and may forbear to sue or may extend time for payment of or otherwise modify the terms of the debt secured by it, without discharging or in any way affecting the liability of the original parties or under the debt secured by it.

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With respect to an investment made by a state savings bank in a loan, if the ownership of the security for the loan or any part of it becomes vested in a person other than the parties originally executing the security instruments, and provided there is not an agreement in writing to the contrary, the association, without notice to the original parties, may deal with the successors in interest with reference to the security and debt secured in the same manner as if the property were owned by the original parties, and may forbear to sue or may extend time for payment of or otherwise modify the terms of the debt secured by it, without discharging or in any way affecting the liability of the original parties or under the debt secured by it.