The governing body may delegate the investment authority provided by Section 6-5-10 to the treasurer or other financial officer or any fiscal agent or corporate trustee charged with custody of the funds of the local government, who shall thereafter assume full responsibility for such investment transaction until the delegation of authority terminates or is revoked.
HISTORY: 1962 Code Section 1-68; 1967 (55) 625.
Structure South Carolina Code of Laws
Chapter 5 - Investment Of Funds By Political Subdivisions
Section 6-5-10. Authorized investments by political subdivisions.
Section 6-5-15. Securing deposits of funds by local entities.
Section 6-5-20. Delegation of investment authority.
Section 6-5-30. Assistance of State Treasurer.
Section 6-5-40. Chapter shall be supplementary to other statutes.