Current Status Introducing Body:Senate Bill Number:481 Primary Sponsor:Mescher Committee Number:06 Type of Legislation:GB Subject:Pooled Investment Fund Residing Body:Senate Current Committee:Finance Computer Document Number:JIC/5451HC.93 Introduced Date:19930302 Last History Body:Senate Last History Date:19930302 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Mescher Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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481 Senate 19930302 Introduced, read first time, 06
referred to Committee
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TO AMEND SECTION 6-6-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ESTABLISHMENT OF AND AUTHORIZED PARTICIPANTS IN THE SOUTH CAROLINA POOLED INVESTMENT FUND IN THE OFFICE OF THE STATE TREASURER, SO AS TO ALLOW PARTICIPATION IN THE FUND BY NONPROFIT ENTITIES PROVIDING CONTRACTUAL SERVICES TO STATE AGENCIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 6-6-10 of the 1976 Code is amended to read:
"Section 6-6-10. Notwithstanding any other provision of law, the The State Treasurer may establish and maintain a common trust fund to be known as the South Carolina Pooled Investment Fund in which may be deposited public monies in excess of current needs which are under the custody of any county treasurer or the governing body of any municipality, county, school district, regional council of government, or any other political subdivision of the State. For purposes of this chapter `political subdivision' includes a nonprofit entity providing contractual services to a state agency."
SECTION 2. This act takes effect upon approval by the Governor.