The authority, subject to agreements with bondholders as may then exist, may purchase outstanding bonds of the authority with any available funds, at any reasonable price. If the bonds are then redeemable, the price shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date.
S.C. Code Ann. § 11-37-130
Purchase of outstanding bonds
Known as the South Carolina Resources Authority Act
The act spans §§ 11-37-10 to 11-37-90 (28 sections).
1988 Act No. 682, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.