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S.C. Code § 6-21-550

Effect of chapter on existing contracts and liens

South Carolina · South Carolina Code Title 6, Chapter 21 — Revenue Bond Act for Utilities · Status: effective

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S.C. Code § 6-21-550, Effect of chapter on existing contracts and liens, South Carolina, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1566470
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Nothing in this chapter shall be construed as authorizing any borrower to impair or commit a breach of the obligation of any valid lien or contract created or entered into by it, the intention hereof being to authorize the pledging, setting aside and segregation of gross revenues only when consistent with outstanding obligations of such borrower.