South Carolina § 59-69-120 - Use of reserve fund.
Full text of South Carolina South Carolina Code of Laws § 59-69-120 — Use of reserve fund., with citation guidance and answers to common questions.
§ 59-69-120. Use of reserve fund.
Whenever any such reserve fund reaches an amount sufficient to put the county or school district, as the case may be, on a cash basis, the fund may be used for said purpose. And in each year during the time necessary to create such reserve fund, the county superintendent of education shall use the fund accumulated as a loan, without interest, to pay claims held by teachers to whom pay certificates were originally issued, the funds so used to be replaced annually from taxes collected for school purposes.
HISTORY: 1962 Code SECTION 21-943; 1952 Code SECTION 21-943; 1942 Code SECTION 5373; 1932 Code SECTION 5429; Civ. C. '22 SECTION 2694; Civ. C. '12 SECTION 1808; 1902 (23) 1020.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-69-120
What does South Carolina Code of Laws § 59-69-120 cover?
Section 59-69-120 ("Use of reserve fund.") 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 § 59-69-120?
A common citation format is "South Carolina Code of Laws § 59-69-120" (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 § 59-69-120 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.