South Carolina § 12-10-82 - Irrevocable assignment of future payments.
Full text of South Carolina South Carolina Code of Laws § 12-10-82 — Irrevocable assignment of future payments., with citation guidance and answers to common questions.
§ 12-10-82. Irrevocable assignment of future payments.
(A) At the time the qualifying business enters into a revitalization agreement, it may make, with the approval of council, an irrevocable assignment of future payments attributable to the job development credit made pursuant to this chapter to the designated trustee or designee.
(B) For purposes of this section:
(1) "designated trustee" means the single financial institution designated by the council to receive all assignments of payments made pursuant to this chapter and to the terms of an agreement entered into by the qualifying business; and
(2) "other designee" means a taxpayer that receives a minimum of seventy percent of the goods or services produced by the qualifying business at the project.
(C) The election must be made on a form provided by the department, including a waiver of confidentiality pursuant to Section 12-54-240, and the payments may be paid only to the designated trustee or other designee.
HISTORY: 2000 Act No. 399, SECTION 3(A)(2), eff August 17, 2000; 2004 Act No. 227, SECTION 3.E, eff May 11, 2004.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 12-10-82
What does South Carolina Code of Laws § 12-10-82 cover?
Section 12-10-82 ("Irrevocable assignment of future payments.") 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 § 12-10-82?
A common citation format is "South Carolina Code of Laws § 12-10-82" (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 § 12-10-82 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.