South Carolina § 59-111-560 - Penalty for failure to complete contract.
Full text of South Carolina South Carolina Code of Laws § 59-111-560 — Penalty for failure to complete contract., with citation guidance and answers to common questions.
§ 59-111-560. Penalty for failure to complete contract.
If the recipient of a loan fails without justifiable cause to practice medicine or dentistry in accordance with the terms of his contract, a penalty for failure to complete the contract must be imposed by the Department which at a minimum shall consist of a demand for the entire amount of the loan or scholarship benefits received plus per annum interest from the date funds were advanced to the recipient at the prevailing prime rate of the largest bank by deposits in South Carolina in effect at the time the funds were advanced plus two percent, and at a maximum shall consist of a demand for three times the entire amount of the loan benefits received, plus interest at a per annum rate equal to the then prevailing prime rate of the largest bank by deposits in South Carolina. The demand as determined by the Department must be mailed to the recipient at his last known address and shall at that time become immediately due and payable. However, where the Department determines that there is justifiable cause for the failure to practice pursuant to the terms of the contract, it may relieve the recipient of the obligation to practice according to the terms of the contract, and shall provide for repayment of the amount received, plus interest at a per annum rate equal to the then prevailing prime rate of the largest bank by deposits in South Carolina on any terms it deems proper.
Upon recommendation and request of the Department the Attorney General shall institute proceedings for the purpose of recovering any amount due the State upon breach of the contract.
HISTORY: 1962 Code SECTION 22-376; 1974 (58) 1983; 1985 Act No. 186, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-111-560
What does South Carolina Code of Laws § 59-111-560 cover?
Section 59-111-560 ("Penalty for failure to complete contract.") 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 § 59-111-560?
A common citation format is "South Carolina Code of Laws § 59-111-560" (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 § 59-111-560 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.