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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 39 - Joint Legislative Committee On Energy
Section 11-39-50. Deposit in interest-bearing account; disbursement.
Universal Citation: SC Code § 11-39-50 (2021)
Oil overcharge funds must be deposited by the State Treasurer in interest-bearing accounts of the State, with interest earned to be earmarked for the same purposes as the oil overcharge monies. The administering entity shall ensure that funds are drawn down and disbursed in a manner that ensures the maximum interest accruing to the State Treasurer's oil overcharge funds account.
HISTORY: 1988 Act No. 680, Section 5; 2005 Act No. 164, Section 12.
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