South Carolina § 51-13-860 - State Fiscal Accountability Authority authorized to make loan to authority for purpose of settling certain claims and litigation.
Full text of South Carolina South Carolina Code of Laws § 51-13-860 — State Fiscal Accountability Authority authorized to make loan to authority for purpose of settling certain claims and litigation., with citation guidance and answers to common questions.
§ 51-13-860. State Fiscal Accountability Authority authorized to make loan to authority for purpose of settling certain claims and litigation.
The State Fiscal Accountability Authority may transfer to the authority an amount not to exceed six million dollars from the funds made available to the South Carolina Coordinating Council for Economic Development pursuant to Section 12-27-1270, for the purpose of the authority participating in any court approved settlement of the claims and litigation brought against the authority, its officers, employees or agents and arising from, related to, or connected with the development of a hotel and marina complex upon the lands of the authority, and for those other operating expenses necessary for the further development of the authority. This transfer is considered a loan to the authority, and it must be for a period not to exceed three years as determined by the State Fiscal Accountability Authority and must be free of interest for that period.
HISTORY: 1990 Act No. 349, SECTION 5, eff December 7, 1992.
Editor's Note
1990 Act No. 349, SECTION 7, approved March 19, 1990, provides as follows:
"This act takes effect upon approval by the Governor, except that the provisions of Sections 1, 2, 5, and 6 of this act do not take effect until the date that all claims and litigation, brought against the Patriot's Point Development Authority, its officers, employees, or agents and arising from, related to, or connected with the development of a hotel and marina complex upon the lands of the authority, have been settled or otherwise disposed of to the satisfaction of the Governor and the State Budget and Control Board as evidenced by written resolution of the board. On the date of this written resolution, the terms of the present members of the authority expire and their successors appointed in the manner provided by this act shall take office."
The Budget and Control Board adopted the resolution required by the Act on December 7, 1992.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 51-13-860
What does South Carolina Code of Laws § 51-13-860 cover?
Section 51-13-860 ("State Fiscal Accountability Authority authorized to make loan to authority for purpose of settling certain claims and litigation.") 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 § 51-13-860?
A common citation format is "South Carolina Code of Laws § 51-13-860" (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 § 51-13-860 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.