Current StatusView additional legislative information at the LPITS web site.Bill Number: 1312 Ratification Number: 586 Act Number 518 Introducing Body: Senate Subject: Authorized investments for political subdivisions
(A518, R586, S1312)
AN ACT TO AMEND SECTION 6-5-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AUTHORIZED INVESTMENTS BY POLITICAL SUBDIVISIONS, SO AS TO AUTHORIZE POLITICAL SUBDIVISIONS TO INVEST MONEY IN REPURCHASE AGREEMENTS WHEN COLLATERALIZED BY SECURITIES AS SET FORTH IN THIS SECTION.
Be it enacted by the General Assembly of the State of South Carolina:
Authorized investments
SECTION 1. Section 6-5-10(a) of the 1976 Code is amended by adding:
"(5) Repurchase agreements when collateralized by securities as set forth in this section."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.