The notes, bonds or other obligations of the Authority shall not be a debt or grant or loan of credit of the State or any political subdivision thereof and neither the State nor any political subdivision thereof shall be liable thereon, nor shall they be payable out of any funds other than those of the Authority and all notes, bonds and other obligations issued pursuant to this chapter shall contain on the face thereof a statement to such effect.
S.C. Code Ann. § 31-13-280
Liability of state and political subdivisions
Known as the South Carolina State Housing Finance and Development Authority Act
The act spans §§ 31–31 (27 sections).
1977 Act No. 76, SECTION 10.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.