South Carolina § 46-40-20 - Definitions.
Full text of South Carolina South Carolina Code of Laws § 46-40-20 — Definitions., with citation guidance and answers to common questions.
§ 46-40-20. Definitions.
As used in this chapter:
(1) "Department" means the South Carolina Department of Agriculture.
(2) "Fair market value" means the value based on the average market price being paid to grain dealers by grain processors on a specified date.
(3) "Grain" means any feed grains or oil seeds, except cottonseeds, sold by South Carolina grain dealers.
(4) "Debtor" means the Southern Soya Corporation now in bankruptcy. Bankruptcy for this purpose includes a Chapter 7 liquidation or a Chapter 11 reorganization.
(5) "Loss" means any monetary loss of a debtor over and beyond the amount protected by the debtor's bond and over and beyond the amount, if any, previously received for the monetary loss from the South Carolina Grain Producers Guaranty Fund or the Warehouse Receipts Guaranty Fund as a result of doing business with the debtor.
(6) "Date of loss" means the date the debtor filed its petition for bankruptcy.
(7) "Grain dealer" means any resident licensed by this State engaged in selling grain received from the producer or the producer's agent.
HISTORY: 2000 Act No. 381, Part I, SECTION 1, eff June 14, 2000.
Frequently Asked Questions About South Carolina § 46-40-20
What does South Carolina Code of Laws § 46-40-20 cover?
Section 46-40-20 ("Definitions.") 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 § 46-40-20?
A common citation format is "South Carolina Code of Laws § 46-40-20" (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 § 46-40-20 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.