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H. 4636
STATUS INFORMATION
General Bill
Sponsors: Reps. Ceips, Cotty, Limehouse, Bowers, Herbkersman, Jennings, Koon, Owens, Sinclair and G.R. Smith
Document Path: l:\council\bills\ms\7069mm04.doc
Introduced in the House on January 28, 2004
Currently residing in the House Committee on Judiciary
Summary: County treasurers, investment authority clarified in a council-manager form of government
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/28/2004 House Introduced and read first time HJ-47 1/28/2004 House Referred to Committee on Judiciary HJ-47
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 12-45-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INVESTMENTS BY COUNTY TREASURERS, SO AS TO CLARIFY THE AUTHORITY OF THE GOVERNING BODY TO DELEGATE INVESTMENT AUTHORITY TO THE COUNTY TREASURER APPOINTED IN A COUNCIL-MANAGER FORM OF GOVERNMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-45-220(B) of the 1976 Code is amended to read:
"(B) In a county adopting a council-manager form of government and in which the governing body appoints the county treasurer, as provided in Section 4-9-860, The the governing body may delegate the investment authority provided above to the county treasurer. who The treasurer shall assume full responsibility for the investment transactions until the delegation of authority terminates or is revoked."
SECTION 2. This act takes effect upon approval by the Governor.
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