South Carolina § 38-9-130 - Interest on deposited securities.
Full text of South Carolina South Carolina Code of Laws § 38-9-130 — Interest on deposited securities., with citation guidance and answers to common questions.
§ 38-9-130. Interest on deposited securities.
The director or his designee at the time of receiving any bonds or other securities deposited under Sections 38-9-80 to 38-9-140 shall give to the company authority to collect the interest thereon for its own use. This authority continues in force until the company fails to pay any of its liabilities for which the deposit is security. In case of that failure the party charged with payment of the interest must be notified that thereafter the interest is payable to the director or his designee to be applied, if necessary, to the payment of those liabilities.
HISTORY: Former 1976 Code SECTION 38-9-130 [1935 (39) 287; 1942 Code SECTION 9051-2; 1952 Code SECTION 37-149.2; 1962 Code SECTION 37-149.2; 1967 (55) 184] has no comparable provisions in 1987 Act No. 155; Former 1976 Code SECTION 38-5-730 [1962 Code SECTION 37-185.6; 1962 (52) 2148] recodified as SECTION 38-9-130 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 535.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-9-130
What does South Carolina Code of Laws § 38-9-130 cover?
Section 38-9-130 ("Interest on deposited securities.") 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 § 38-9-130?
A common citation format is "South Carolina Code of Laws § 38-9-130" (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 § 38-9-130 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.