S1077: Authorize issuance of bonds for purposes of offsetting and reducing prudently incurred costs

Legislative Summary

Amend The Code Of Laws Of South Carolina, 1976, By Adding Article 8 To Chapter 27, Tile 58 So As To, Among Other Things, Allow The Public Service Commission To Authorize The Issuance Of Bonds For The Purposes Of Offsetting And Reducing Prudently Incurred Costs For Storm Recovery Activity And To Establish The Requirements And Processes For The Authorization Of These Bonds; And To Amend Section 36-9-109, Relating To The Scope Of The Uniform Commercial Code Provisions Governing Secured Transactions, So As To Make These Provisions Applicable To The Creation, Perfection, Priority, Or Enforcement Of Any Sale, Assignment Of, Pledge Of, Security Interest In, Or Other Transfer Of, Any Interest Or Right Or Portion Of Any Interest Or Right In Any Storm Recovery Property As Defined In This Act. - Ratified Title