South Carolina Statutes
§ 44-7-1610 — Revenues deemed trust funds.
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article and in any resolution or trust indenture pursuant hereto. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and the resolution authorizing the bonds of any issue or any trust indenture.
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South Carolina § 44-7-1610 (Revenues deemed trust funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 32-798.20; 1973 (58) 654.
Nearby Sections
15
§ 44-7-1000
Proceeds of bond issue.§ 44-7-1010
Payment of bonds; annual tax.§ 44-7-1020
Acquisition of property; memorials.§ 44-7-1070
Persons who may be patients.§ 44-7-110
Short title.§ 44-7-1100
Tax levy by adjoining county.§ 44-7-1110
Cancellation of contributing agreement.§ 44-7-1120
Annual audit.