South Carolina § 31-1-620 - Payments covered by rentals.
Full text of South Carolina South Carolina Code of Laws § 31-1-620 — Payments covered by rentals., with citation guidance and answers to common questions.
§ 31-1-620. Payments covered by rentals.
The payments to be made by such corporation shall be:
(1) all fixed charges and all operating and maintenance charges and expenses which shall include taxes, assessments, insurance, amortization charges in amounts approved by the director to amortize the mortgage indebtedness in whole or in part, depreciation charges if, when and to the extent deemed necessary by the director, reserves, sinking fund and corporate expenses essential to the operation and management of the project in amounts approved by the director;
(2) a dividend not exceeding the maximum fixed by this chapter upon the stock of the corporation allotted to the project by the director; and
(3) when feasible in the judgment of the director, a sinking fund in an amount to be fixed by the director for the gradual retirement of the stock and income debentures of the corporation to the extent permitted by this chapter.
HISTORY: 1962 Code SECTION 36-52; 1952 Code SECTION 36-52; 1942 Code SECTION 5271-13; 1933 (38) 176; 1993 Act No. 181, SECTION 501.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 31-1-620
What does South Carolina Code of Laws § 31-1-620 cover?
Section 31-1-620 ("Payments covered by rentals.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 31-1-620?
A common citation format is "South Carolina Code of Laws § 31-1-620" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 31-1-620 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.