South Carolina Code 11-57-500. Ineligibility to contact with political subdivisions
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 11-57-500
- Contract: A legal written agreement that becomes binding when signed.
- Investment: means a commitment or contribution of funds or property, whatever the source, a loan or other extension of credit, and the entry into or renewal of a contract for goods or services. See South Carolina Code 11-57-30
- Iran: includes the Government of Iran and any agency or instrumentality of Iran. See South Carolina Code 11-57-30
- Person: means any of the following:
(a) a natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;
(b) any governmental entity or instrumentality of a government, including a multilateral development institution, as defined in Section 1701(c)(3) of the International Financial Institutions Act (22 U. See South Carolina Code 11-57-30
A person that is identified on a list created pursuant to § 11-57-310, as a person engaging in investment activities in Iran as described in § 11-57-300 shall be ineligible to contract with any political subdivision of this State, and any contract entered into with a political subdivision of this State shall be void ab initio.