South Carolina § 11-37-260 - State Treasurer may withhold monies from defaulting local governments.
Full text of South Carolina South Carolina Code of Laws § 11-37-260 — State Treasurer may withhold monies from defaulting local governments., with citation guidance and answers to common questions.
§ 11-37-260. State Treasurer may withhold monies from defaulting local governments.
If at any time any local government fails to effect the punctual payment of the principal of or interest on its local obligations, the State Treasurer shall withhold from the local government sufficient monies from any state appropriation to the local government and apply so much as is necessary to the payment of the principal of and interest on the local obligation of the government. All appropriations of local governments of the State are subject to the provisions of this section. If the local government does not receive state aid in an amount necessary to repay the obligation, the Comptroller General may levy and require the applicable county treasurer to collect and remit to the authority an ad valorem tax sufficient to meet the obligation.
HISTORY: 1988 Act No. 682, SECTION 2.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 11-37-260
What does South Carolina Code of Laws § 11-37-260 cover?
Section 11-37-260 ("State Treasurer may withhold monies from defaulting local governments.") 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 § 11-37-260?
A common citation format is "South Carolina Code of Laws § 11-37-260" (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 § 11-37-260 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.