2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 13 - Deposit Of State Funds
Section 11-13-125. State Treasury designated as depository for all funds received by state departments and institutions.
All funds received by any department or institution of the state Government shall be deposited and maintained in appropriate accounts in the State Treasury except such funds as may be authorized by the State Fiscal Accountability Authority to be maintained in departmental or institutional bank accounts for regular operating purposes or for other justifiable circumstances, such accounts to be maintained in such banks or banking institutions as shall be designated by the State Treasurer.
To facilitate the management of all funds, all earnings from investments of general deposit funds shall become a part of the General Fund of the State.
HISTORY: 1977 Act No. 219, Part II, Section 8.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, Section 5(D)(1), effective July 1, 2015.
