South Carolina General Assembly
107th Session, 1987-1988

Bill 1312

                    Current Status

Bill Number:               1312
Ratification Number:       586
Act Number                 518
Introducing Body:          Senate
Subject:                   Authorized investments for political
                           subdivisions
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(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.