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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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