2016 South Carolina Code of Laws
Title 5 - Municipal Corporations
CHAPTER 21 - FINANCIAL MATTERS GENERALLY
Section 5-21-680. Coupons, registrations and negotiability.
Any such bonds shall be issued as coupon bonds, payable to bearer, with the privilege to the holder of having them registered on the books of the treasurer of the municipality 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 municipal council may prescribe. Unless registered such bonds shall have all the qualities of negotiable instruments under the law merchant and the Uniform Commercial Code.
HISTORY: 1962 Code Section 47-860.8; 1952 Code Section 47-860.8; 1951 (47) 767.
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