South Carolina § 13-1-740 - Investment of funds.
Full text of South Carolina South Carolina Code of Laws § 13-1-740 — Investment of funds., with citation guidance and answers to common questions.
§ 13-1-740. Investment of funds.
All funds of the division must be invested by the State Treasurer and, upon approval and designation by the State Treasurer of a financial institution or institutions, all funds must be deposited in such institutions by the division in accordance with policies established by the director. Funds of the division must be paid out only upon warrants issued in accordance with policies established by the director. No warrants may be drawn or issued disbursing any of the funds of the division except for a purpose authorized by this article. The net earnings of the division, beyond that necessary for retirement of its bonds or other obligations or to implement the purposes of this article, may not inure to the benefit of any person other than the division. Upon termination of the existence of the division, title to all property, real and personal, owned by it, including net earnings, vests in the State.
HISTORY: 1993 Act No. 181, SECTION 245, eff July 1, 1993.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 13-1-740
What does South Carolina Code of Laws § 13-1-740 cover?
Section 13-1-740 ("Investment of funds.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 13-1-740?
A common citation format is "South Carolina Code of Laws § 13-1-740" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 13-1-740 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.