South Carolina § 41-43-170 - Guaranty fund authorized; purposes.
Full text of South Carolina South Carolina Code of Laws § 41-43-170 — Guaranty fund authorized; purposes., with citation guidance and answers to common questions.
§ 41-43-170. Guaranty fund authorized; purposes.
The authority is authorized to create a guaranty fund, consisting solely of program funds, which may be used to guarantee or insure or purchase insurance for loans of financial institutions to business enterprises which meet the eligibility requirements of Section 41-43-150. Such funds shall be held in the custody of the State Treasurer, or with his approval may be held in the custody of one or more commercial banks or trust companies having a principal place of business in this State.
Loans which qualify for a guaranty or insurance under this section must consist of:
(1) Loans to eligible business enterprises located in distressed areas as defined in Section 41-43-180 for any purpose for which a loan may be made pursuant to Section 41-43-160, including the provision of working capital;
(2) Loans used to finance export sales or production for export by eligible business enterprises as provided in Section 41-43-190.
HISTORY: 1983 Act No. 145 SECTION 18.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 41-43-170
What does South Carolina Code of Laws § 41-43-170 cover?
Section 41-43-170 ("Guaranty fund authorized; purposes.") 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 § 41-43-170?
A common citation format is "South Carolina Code of Laws § 41-43-170" (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 § 41-43-170 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.