The State pledges and agrees with the holders of any notes or bonds issued under this chapter that the State will not limit or alter the rights vested in the Authority to fulfill the terms of any agreements made with the holders thereof or in any way impair the rights and remedies of the holders until the notes or bonds, together with any action or proceedings by or on behalf of the holders, are fully met and discharged. The Authority is authorized to include this pledge and agreement of the State in any agreement with the holders of the notes or bonds.
S.C. Code Ann. § 31-13-300
Agreements with holders of notes or bonds not subject to future alteration
Known as the South Carolina State Housing Finance and Development Authority Act
The act spans §§ 31-13-10 to 31-13-90 (27 sections).
1977 Act No. 76, SECTION 12.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.