South Carolina General Assembly
115th Session, 2003-2004

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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
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   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

1/28/2004

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A 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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