No state officer or employee, on behalf of any state department, board, bureau, commission or other state agency, shall deposit with any bank, trust company, institution, building and loan association or individual any funds belonging to the State whether the same be represented by checks, drafts, bills, currencies or other forms of exchange. But in the discretion of the State Treasurer each department or institution may carry with some bank or banking company an account in the name of such department or institution, as a revolving fund, from which the State Treasurer shall be reimbursed for bad checks. The amount of and necessity for such revolving funds shall be determined by the State Treasurer. The provisions of this section shall not apply to fees or other revenues collected by any state institution which are not required by law to be remitted to the State Treasurer.
HISTORY: 1962 Code Section 1-750; 1952 Code Section 1-750; 1942 Code Section 3188; 1932 Code Section 3188; Civ. C. '22 Sections 882, 883, 884; 1921 (32) 114; 1930 (36) 1361.
Structure South Carolina Code of Laws
Chapter 13 - Deposit Of State Funds
Section 11-13-10. Vault for State Treasurer.
Section 11-13-20. Deposit of state funds in banks or trust companies.
Section 11-13-30. Only State Treasurer may invest and deposit funds.
Section 11-13-40. General deposit account.
Section 11-13-45. Deposit and handling of federal funds; donations from other sources.
Section 11-13-60. Security for state funds deposited in excess of FDIC coverage.
Section 11-13-70. Reports from depositories to Treasurer.
Section 11-13-80. Depositories to report deposits monthly to Comptroller General.
Section 11-13-90. Failure of depository to report.
Section 11-13-100. Intermingling official funds with private funds prohibited.
Section 11-13-120. Manner of depositing state funds; exception for county treasurers.
Section 11-13-130. Deposit slips.
Section 11-13-140. State Treasury deemed bank for federal purposes.