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Section 11-9-290. Borrowing to maintain balance in general deposit account.

SC Code § 11-9-290 (2019) (N/A)
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The State Treasurer shall at all times maintain a sufficient cash reserve in the general deposit account to finance properly the activities supported by the respective funds comprising the general deposit account and to this end the State Fiscal Accountability Authority may borrow, from time to time, such amounts as are necessary. To the end that such borrowing may be kept at a minimum each department and institution may be required to give to the State Treasurer a quarterly anticipation of its expenditures, itemized according to budget classifications, by months.

HISTORY: 1962 Code Section 1-771; 1952 Code Section 1-771; 1947 (45) 97; 1950 (46) 3605.

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.

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Section 11-9-280. Borrowing to pay operating expenses of the State.
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Section 11-9-300. Borrowing to maintain general fund; required cash balance.