South Carolina Code 46-40-80. Single payment restriction
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Terms Used In South Carolina Code 46-40-80
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Debtor: means the Southern Soya Corporation now in bankruptcy. See South Carolina Code 46-40-20
- Grain: means any feed grains or oil seeds, except cottonseeds, sold by South Carolina grain dealers. See South Carolina Code 46-40-20
No grain dealer is entitled to be paid more than once from any state guaranty fund for any losses incurred as a result of the bankruptcy of this debtor.