South Carolina § 11-57-320 Exception to contract prohibition on case-by-case basis.

South Carolina Statutes

§ 11-57-320 — Exception to contract prohibition on case-by-case basis.

South Carolina § 11-57-320

Title 11PUBLIC FINANCE

Ch. 57IRAN DIVESTMENT ACT

This text of South Carolina § 11-57-320 (Exception to contract prohibition on case-by-case basis.) 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. § 11-57-320 (2026).

Text

Notwithstanding Section 11-57-310, a person engaged in investment activities in Iran as described in Section 11-57-300, may contract with the State if:

(1)the investment activities in Iran were made before January 1, 2015, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or (2) the state agency makes a determination that the commodities or services are necessary to perform its functions and that, absent such an exemption, the state agency would be unable to obtain the commodities or services for which the contract is offered. Such determination shall be ente

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Notwithstanding Section 11-57-310, a person engaged in investment activities in Iran as described in Section 11-57-300, may contract with the State if: (1) the investment activities in Iran were made before January 1, 2015, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or (2) the state agency makes a determination that the commodities or services are necessary to perform its functions and that, absent such an exemption, the state agency would be unable to obtain the commodities or services for which the contract is offered. Such determination shall be entered into the procurement record.

Legislative History

HISTORY: 2014 Act No. 267 (H.3021), SECTION 1, eff September 7, 2014; 2015 Act No. 63 (H.3583), SECTION 2.A, eff June 4, 2015. Editor's Note 2015 Act No. 63, SECTION 5, provides as follows: "SECTION 5. This act takes effect upon approval by the Governor and does not apply to contracts entered into before the effective date of this act." Effect of Amendment 2015 Act No. 63, SECTION 2.A, in the undesignated paragraph, deleted ", on a case-by-case basis," following "with the State"; and in (1), substituted "January 1, 2015" for "the effective date of this act".