South Carolina General Assembly
106th Session, 1985-1986

Bill 3361

                    Current Status

Bill Number:               3361
Ratification Number:       403
Act Number:                372
Introducing Body:          House
Subject:                   To provide that the Office of the State
                           Treasurer is a limited trust company for
                           purposes of the Federal Reserve Board
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A372, R403, H3361)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-5-250 SO AS TO PROVIDE THAT THE OFFICE OF THE STATE TREASURER IS A LIMITED TRUST COMPANY FOR PURPOSES OF THE FEDERAL RESERVE BOARD.

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

Limited trust company

SECTION 1. The 1976 Code is amended by adding:

"Section 11-5-250. The office of the State Treasurer is a limited trust company in connection with banking activities with the Federal Reserve Board and meets the requirements and responsibilities of a limited trust company as defined by the Federal Reserve Board."

Time effective

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