In case any suit, action or proceeding to enforce any right or exercise any remedy shall be brought or taken and then discontinued or abandoned, or shall be determined adversely to the holder of the refunding bonds, or any trustee therefor, the municipality and such holder, or such trustee, shall be restored to their former positions and rights and remedies as if no such suit, action or proceeding had been brought or taken.
S.C. Code Ann. § 6-17-280
Effect of abandonment or loss of suit
Known as the The Revenue Bond Refinancing Act
The act spans §§ 6–6 (33 sections).
1962 Code SECTION 59-678; 1952 Code SECTION 59-678; 1942 Code SECTION 9300; 1937 (40) 313.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.