Bonds issued pursuant to this chapter shall be in the form of negotiable coupon bonds, payable to bearer, with the privilege to the holder of having them registered as to principal on the books of the treasurer of the county and the principal thus made payable to the registered holder (unless the last registered transfer shall have been to bearer) upon such conditions as the authorities may prescribe. Unless registered such bonds shall have all qualities of negotiable instruments under the law merchant and the Negotiable Instruments Law. Provided, however, any bonds issued pursuant to this chapter and purchased by the United States or any agency or department thereof, may be in fully registered form as to both principal and interest, and may be registered on the books of the treasurer of the county.
HISTORY: 1962 Code Section 14-519; 1952 Code Section 14-519; 1951 (47) 763; 1977 Act No. 58.
Structure South Carolina Code of Laws
Section 4-15-30. When counties may issue bonds; amount.
Section 4-15-40. Holding of election; persons who may vote.
Section 4-15-50. Notice of election.
Section 4-15-70. Maturity of bonds.
Section 4-15-80. Redemption provisions.
Section 4-15-90. Form and negotiability of bonds; registration.
Section 4-15-100. Place of payment.
Section 4-15-110. Interest rates.
Section 4-15-120. Execution of bonds.
Section 4-15-130. Advertisement and sale of bonds.
Section 4-15-140. Minimum sale price.
Section 4-15-150. Pledge of credit for payment; levy and collection of tax.
Section 4-15-160. Exemption from taxes.
Section 4-15-170. Bonds shall be legal for fiduciary investments.
Section 4-15-180. Deposit and application of proceeds of sale of bonds.