Section 11-9-300. Borrowing to maintain general fund; required cash balance.

SC Code § 11-9-300 (2019) (N/A)

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The State Fiscal Accountability Authority shall, when necessary, borrow as otherwise provided by law a sufficient sum or sums of money to provide for the payment of all demands upon the State Treasury, to the end that the general fund herein authorized shall at no time become exhausted, and the authority shall maintain at all times a cash balance sufficient in its judgment to meet the requirements of Sections 11-9-240 to 11-9-270 and this section.

HISTORY: 1962 Code Section 1-772; 1952 Code Section 1-772; 1942 Code Section 2204; 1932 Code Section 2204; 1930 (36) 1343; 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.

Editor's Note

Sections 11-9-240 to 11-9-270 are repealed by 2014 Act No. 121, Section 10.C, effective July 1, 2015.

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

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Section 11-9-310. Issuance of bonds, notes, certificates of indebtedness, or other obligations in small denominations.