South Carolina § 51-15-260 - Real estate transactions that certain board members have pecuniary interest.
Full text of South Carolina South Carolina Code of Laws § 51-15-260 — Real estate transactions that certain board members have pecuniary interest., with citation guidance and answers to common questions.
§ 51-15-260. Real estate transactions that certain board members have pecuniary interest.
No person who has been a member of the park and recreation board within six months from the time of making of the sale or purchase shall be directly or indirectly pecuniarily interested in the sale to or purchase from such municipality by or through the agency or instance of such board of any land or interest in land, and any sale to or by such municipality made in violation of this provision, shall, at the instance of such municipality, be held to be against public policy and void and may be rescinded by such municipality. If any member of the board is a stockholder in a corporation owning land or interest in land desired by such municipality for park and recreation purposes, or is the owner of an individual interest in the land desired for such purposes, or if any member of the board is a stockholder in a corporation desiring to purchase land proposed to be sold by such municipality at the instance of the board, such member may in open meeting of the board disclose his interest, which shall appear on the minutes of the meeting, and retire from the meeting of the board, and the other members of the board, if a quorum remains, may consider the matter and decide it as they deem best; and any such sale shall be legal and valid. If any member of the board is the owner of the land which it is desired to acquire for such municipality for any such purpose, the land, if acquired, shall be acquired by the exercise of the right of eminent domain, and the petition or proceeding for condemnation shall set forth the facts in regard to the ownership by a member of the board.
HISTORY: 1962 Code SECTION 51-165.15; 1954 (48) 1809.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 51-15-260
What does South Carolina Code of Laws § 51-15-260 cover?
Section 51-15-260 ("Real estate transactions that certain board members have pecuniary interest.") 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 § 51-15-260?
A common citation format is "South Carolina Code of Laws § 51-15-260" (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 § 51-15-260 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.