South Carolina General Assembly
104th Session, 1981-1982

Bill 3434

                    Current Status

Bill Number:               3434
Ratification Number:       391
Act Number                 332
Introducing Body:          House
Subject:                   Relating to charging off losses in county
                           funds
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A332, R391, H3434)

AN ACT TO AMEND SECTION 4-11-160, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CHARGING OFF LOSSES IN COUNTY FUNDS, SO AS TO CHANGE THE AUTHORITY TO APPROVE SUCH CHARGE-OFFS FROM THE COMPTROLLER GENERAL TO THE COUNTY COUNCIL.

Be it enacted by the General Assembly of the State of South Carolina:

Teasurer to have custody of records

Section 1. Section 4-11-160 of the 1976 Code is amended to read:

"Section 4-11-160. Whenever there shall occur in any county office in this State a loss of public funds arising through defalcation, bank deposits, theft or otherwise, the county treasurer or other officer having custody of the records in which such loss appears may charge off such loss with the approval of the county council, but, in the case of bank losses, only if the bank shall have been liquidated and the receiver or other agent discharged and, in the case of any other loss, only if the sums recoverable by bond or otherwise shall have been applied against the loss and the remaining sum definitely ascertained to be irrecoverable."

Time effective

Section 2. This act shall take effect upon the approval by the Governor.