All money of the bank, except as authorized by law or provided in this chapter, must be deposited with and invested by the State Treasurer. Funds of the bank not needed for immediate use or disbursement may be invested by the State Treasurer in obligations or securities which are declared to be legal obligations by the provisions of Section 11-9-660. All federal funds must be invested as required by applicable federal law.
S.C. Code Ann. § 11-43-240
Deposit and investments
Known as the South Carolina Transportation Infrastructure Bank Act
The act spans §§ 11–11 (46 sections).
1997 Act No. 148, 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.