Nothing contained in this chapter and Chapter 11 shall be construed as limiting the power of an authority to vest in an obligee the right, in the event of a default by the authority, to take possession of a housing project or cause the appointment of a receiver thereof, free from all the restrictions imposed by this chapter and Chapter 11.
S.C. Code Ann. § 31-3-550
Foreclosure frees projects from restrictions
1962 Code SECTION 36-136; 1952 Code SECTION 36-136; 1942 Code SECTION 5271-42; 1937 (40) 431; 1938 (40) 1819; 1951 (47) 529.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.