2013 South Carolina Code of Laws
Title 39 - Trade and Commerce
CHAPTER 73 - STATE COMMODITY CODE
SECTION 39-73-370. Defense, in case based on failure to make physical delivery, of factors beyond seller's control, where delivery completed within reasonable time.
It is a defense in a complaint, information, indictment, a writ, or a proceeding brought under this chapter alleging a violation of Section 39-73-20 based solely on the failure in an individual case to make physical delivery within the applicable time under Section 39-73-10(5) or Section 39-73-40(A)(2) if:
(1) failure to make physical delivery was due solely to factors beyond the control of the seller, the seller's officers, directors, partners, agents, servants, or employees, persons occupying a similar status or performing similar functions, persons who directly or indirectly control or are controlled by the seller, or the seller's affiliates, subsidiaries, or successors;
(2) physical delivery was completed within a reasonable time under the applicable circumstances.
HISTORY: 1993 Act No. 68, Section 1, eff 200 days after approval (approved May 14, 1993).
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