South Carolina § 31-3-1630 - Bonds or other obligations as investments.
Full text of South Carolina South Carolina Code of Laws § 31-3-1630 — Bonds or other obligations as investments., with citation guidance and answers to common questions.
§ 31-3-1630. Bonds or other obligations as investments.
Notwithstanding any restrictions on investments contained in any laws of this State, the State and all public officers, municipal corporations, political subdivisions and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to this chapter and Chapter 11 or issued by any public housing authority or agency in the United States when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States Government or any agency thereof. Such bonds and other obligations shall be authorized security for all public deposits.
But nothing contained in this section shall be construed as relieving any person from any duty of exercising reasonable care in selecting securities.
HISTORY: 1962 Code SECTION 36-163; 1952 Code SECTION 36-163; 1942 Code SECTION 5271-91; 1939 (41) 329.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 31-3-1630
What does South Carolina Code of Laws § 31-3-1630 cover?
Section 31-3-1630 ("Bonds or other obligations as investments.") 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 § 31-3-1630?
A common citation format is "South Carolina Code of Laws § 31-3-1630" (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 § 31-3-1630 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.