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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 15 - Bonds Of Political Subdivisions
Section 11-15-240. Holding of sinking fund investments.
Universal Citation: SC Code § 11-15-240 (2021)
Such investments shall be kept separate and distinct and properly earmarked with or registered in the name of the particular sinking fund to which they are applicable and shall be used for no other purpose and kept until such time before the maturity of the bonds for which the sinking fund is established as it may be necessary to sell or collect them in order to meet such obligations at maturity.
HISTORY: 1962 Code Section 1-664; 1952 Code Section 1-664; 1942 Code Section 3884; 1932 Code Section 3884; 1925 (34) 289; 1928 (35) 1167; 1931 (37) 95, 132; 1932 (37) 1352, 1363; 1935 (39) 432.
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