All money of the authority, except as otherwise authorized by law or provided in this chapter, must be deposited with and invested by the State Treasurer. Funds of the authority not needed for immediate use or disbursement, including any funds held in any capital reserve fund, may be invested by the State Treasurer in obligations or securities which are declared to be legal obligations by the provisions of Chapter 5, Title 6, Section 11-9-660, and Section 11-9-661.
S.C. Code Ann. § 11-37-230
State Treasurer to invest monies of authority
Known as the South Carolina Resources Authority Act
The act spans §§ 11-37-10 to 11-37-90 (28 sections).
1988 Act No. 682, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.