South Carolina § 44-7-1540 - Additional provisions in loan agreement; guarantee agreement.
Full text of South Carolina South Carolina Code of Laws § 44-7-1540 — Additional provisions in loan agreement; guarantee agreement., with citation guidance and answers to common questions.
§ 44-7-1540. Additional provisions in loan agreement; guarantee agreement.
Any loan agreement may provide that the hospital facilities will be owned by the county and leased to the hospital agency or public agency, may provide the hospital agency or public agency with an option to purchase the hospital facility upon such terms and conditions as the county board and the hospital agency or public agency shall agree upon at a price which may be a nominal amount or less than the true value at the time of purchase, or may provide that the hospital facilities shall become the property of the hospital agency or public agency upon the acquisition thereof. In connection with any loan agreement, any county board may obtain and enter into a guaranty agreement whereby a party other than the hospital agency or public agency guarantees in whole or in part the obligations of the hospital agency or public agency under the loan agreement upon such terms and conditions as the county board may deem appropriate.
HISTORY: 1962 Code SECTION 32-798.13; 1973 (58) 654.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 44-7-1540
What does South Carolina Code of Laws § 44-7-1540 cover?
Section 44-7-1540 ("Additional provisions in loan agreement; guarantee agreement.") 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 § 44-7-1540?
A common citation format is "South Carolina Code of Laws § 44-7-1540" (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 § 44-7-1540 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.