The bonds issued pursuant to this chapter must be in the form of negotiable coupon bonds, payable to bearer, but may be issued with the privilege to any holder of having them registered as to principal on the books of the county treasurer upon such conditions as the governing body may prescribe. Except when registered, all bonds issued pursuant to this chapter shall have all attributes of negotiable instruments under the law merchant and the Uniform Commercial Code. Provided, however, that any bonds issued under this chapter and purchased by the United States of America, or any agency or department thereof, may be in fully registered form as to both principal and interest and registered on the books of the county treasurer.
HISTORY: 1962 Code Section 14-700.207; 1974 (58) 2681; 1984 Act No. 408, Section 2.
Structure South Carolina Code of Laws
Chapter 19 - Fire Protection Services
Section 4-19-10. Powers of governing body generally.
Section 4-19-25. Creation of fire protection districts validated.
Section 4-19-30. Conditions precedent to issuance of bonds.
Section 4-19-40. No further action required for issuance of bonds.
Section 4-19-50. Power to issue bonds.
Section 4-19-60. Maturity of bonds.
Section 4-19-70. Redemption of bonds.
Section 4-19-80. Form and negotiability of bonds; registration.
Section 4-19-90. Place of payment.
Section 4-19-100. Interest on bonds.
Section 4-19-110. Execution of bonds.
Section 4-19-120. Advertisement and sale of bonds.
Section 4-19-130. Additional security for payment of bonds.
Section 4-19-150. Bonds exempt from taxation.
Section 4-19-160. Disposition of proceeds from sale of bonds; use of balance in bond account.
Section 4-19-170. Powers to be additional and may be exercised at regular or special meeting.