Nothing in this chapter shall be construed as authorizing any borrower to impair or commit a breach of the obligation of any valid lien or contract created or entered into by it, the intention hereof being to authorize the pledging, setting aside and segregation of gross revenues only when consistent with outstanding obligations of such borrower. HISTORY: 1962 Code Section 59-413; 1952 Code Section 59-413; 1942 Code Section 9273; 1933 (38) 411.
South Carolina Legal Code