South Carolina § 5-3-314 - Obligation may not be disturbed.
Full text of South Carolina South Carolina Code of Laws § 5-3-314 — Obligation may not be disturbed., with citation guidance and answers to common questions.
§ 5-3-314. Obligation may not be disturbed.
In no event under any plan or otherwise may the obligation between the district and its general obligation bondholders or, in the case of a special tax or assessment district, the obligation between the district and the holders of the county bonds issued on its behalf, be disturbed. If adequate provision is not made for the levy of taxes or for payment of the principal and interest on such bonds, it is the duty of the auditor of the county to levy, and of the treasurer of the county to collect, an ad valorem tax, without limit as to rate or amount, upon all taxable property within the district as it was constituted on the dates those bonds were issued sufficient to pay principal and interest as they become due. Only bondholders or agents or trustees acting on their behalf may proceed at law or in equity to enforce this requirement.
HISTORY: 1988 Act No. 626, SECTION 6; 2000 Act No. 250, SECTION 3.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 5-3-314
What does South Carolina Code of Laws § 5-3-314 cover?
Section 5-3-314 ("Obligation may not be disturbed.") 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 § 5-3-314?
A common citation format is "South Carolina Code of Laws § 5-3-314" (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 § 5-3-314 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.