South Carolina Statutes
§ 11-51-170 — Application of sale proceeds; liability of purchaser.
The proceeds of the sale of general obligation debt must be received by the State Treasurer and applied by him to the purposes for which issued, but the purchasers of the general obligation debt are in no way liable for the proper application of the proceeds to the purposes for which they are intended.
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Legislative History
HISTORY: 2004 Act No. 187, SECTION 9.
Nearby Sections
15
§ 11-51-10
Short title.§ 11-51-110
Resolution by State Budget and Control Board authorizing issuance of general obligation debt.§ 11-51-120
Maturity, payment, and interest rates.§ 11-51-20
Legislative findings and purpose.§ 11-51-200
Construction of Chapter.§ 11-51-30
Definitions.