South Carolina Code 39-14-40. Compensation; payment in installments
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Terms Used In South Carolina Code 39-14-40
- Just compensation: means the cash payment of the fair market value of the off-premises outdoor advertising sign in place immediately before its removal and without consideration of the effect of the ordinance or a diminution in value caused by the ordinance requiring its removal. See South Carolina Code 39-14-20
- Local governing body: means a municipality, county, local zoning authority, or political subdivision. See South Carolina Code 39-14-20
- Off-premises outdoor advertising sign: means a lawfully erected, permanent sign which relates in its subject matter to products, accommodations, services, or activities sold or offered elsewhere other than upon the premises on which the sign is located. See South Carolina Code 39-14-20
- Sign owner: means the owner of an off-premises outdoor advertising sign. See South Carolina Code 39-14-20
If a local governing body requires the removal of an off-premises outdoor advertising sign pursuant to the provisions of this chapter and through a voluntary agreement, arbitration, or a court proceeding is required to pay just compensation to a sign owner, the local governing body is authorized to elect to pay the amount due to the sign owner in regular mutually agreed upon installments over three years before the final removal of the sign.