South Carolina § 59-53-2430 - Lease and lease purchase agreements; approval; compliance with Title 11, Chapter 35 and Section 1-11-65.
Full text of South Carolina South Carolina Code of Laws § 59-53-2430 — Lease and lease purchase agreements; approval; compliance with Title 11, Chapter 35 and Section 1-11-65., with citation guidance and answers to common questions.
§ 59-53-2430. Lease and lease purchase agreements; approval; compliance with Title 11, Chapter 35 and Section 1-11-65.
(A) An authority must comply with the provisions of Chapter 47, Title 2, but only State Department of Administration or State Fiscal Accountability Authority, as appropriate, approval is required for leases and lease purchase agreements, including ground lease agreements, the terms and conditions thereof, and the consideration involved, for the construction or use of facilities on an enterprise campus. Upon the expiration of the lease purchase agreements, including ground lease agreements, the private entity shall surrender to an authority the premises with the existing buildings, other structures, and improvements constructed and located on an enterprise campus, in the same condition as when the construction of the buildings, other structures, and improvements were completed, only natural and normal wear and tear excepted. Subject to the provisions of this article, the approval of the State Department of Administration or State Fiscal Accountability Authority, as appropriate, required for leases and lease purchase agreements, including ground lease agreements, is in lieu of or a substitute for any other approval required by another provision of law or regulation. The full faith and credit of the State toward the lease obligations may not be pledged, and a statement to the contrary is void as a matter of public policy.
(B) Notwithstanding another provision of this chapter, all powers granted to an authority must be exercised in a manner consistent with the provisions of Title 11, Chapter 35 and Section 1-11-65. Approval by the State Fiscal Accountability Authority is not a substitute for the requirements of Title 11, Chapter 35. An authority shall adhere to fire, life, and safety codes as required by the Office of State Engineer.
HISTORY: 2009 Act No. 71, SECTION 3, eff June 16, 2009.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-53-2430
What does South Carolina Code of Laws § 59-53-2430 cover?
Section 59-53-2430 ("Lease and lease purchase agreements; approval; compliance with Title 11, Chapter 35 and Section 1-11-65.") 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 § 59-53-2430?
A common citation format is "South Carolina Code of Laws § 59-53-2430" (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 § 59-53-2430 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.