2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 47 - MARKETING COOPERATIVE ASSOCIATIONS
SECTION 33-47-1120. Damages for breach.
The bylaws and the marketing contract may fix, as liquidated damages, specific sums to be paid by the member or stockholder to the association upon the breach by him of any provision of the marketing contract regarding the sale or delivery or withholding of products and may further provide that the member will pay all costs, premiums for bonds, expenses and fees in case any action is brought upon the contract by the association. Any such provisions shall be valid and enforceable in the courts of this State.
HISTORY: 1962 Code Section 12-972; 1952 Code Section 12-972; 1942 Code Section 6515; 1932 Code Section 6515; Civ. C. '22 Section 3419; 1921 (32) 339.
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