2020 South Carolina Code of Laws
Title 44 - Health
Chapter 7 - Hospitals, Tuberculosis Camps And Health Services Districts
Section 44-7-1540. Additional provisions in loan agreement; guarantee agreement.
Any loan agreement may provide that the hospital facilities will be owned by the county and leased to the hospital agency or public agency, may provide the hospital agency or public agency with an option to purchase the hospital facility upon such terms and conditions as the county board and the hospital agency or public agency shall agree upon at a price which may be a nominal amount or less than the true value at the time of purchase, or may provide that the hospital facilities shall become the property of the hospital agency or public agency upon the acquisition thereof. In connection with any loan agreement, any county board may obtain and enter into a guaranty agreement whereby a party other than the hospital agency or public agency guarantees in whole or in part the obligations of the hospital agency or public agency under the loan agreement upon such terms and conditions as the county board may deem appropriate.
HISTORY: 1962 Code Section 32-798.13; 1973 (58) 654.
