South Carolina § 9-13-50 - Investment of fund.
Full text of South Carolina South Carolina Code of Laws § 9-13-50 — Investment of fund., with citation guidance and answers to common questions.
§ 9-13-50. Investment of fund.
The board of trustees may invest the pension fund in the name of "Board of Trustees of the Firemen's Fund of the City of __________" in any of the following:
(1) Obligations of the United States or obligations fully guaranteed both as to principal and interest by the United States;
(2) Obligations of the Federal intermediate credit banks, Federal home loan banks, Federal National Mortgage Association, banks for cooperatives and Federal land banks and any notes, bonds, debentures, or other similar obligations, consolidated or otherwise, issued by farm credit institutions pursuant to authorities contained in the Farm Credit Act of 1971 (Public Law 92-181);
(3) Obligations of this State;
(4) In the shares of Federal savings and loan associations and State-chartered building or savings and loan associations in which deposits are guaranteed by the Federal Savings and Loan Insurance Corporation, not to exceed the amount covered by insurance.
All such securities shall be deposited by the treasurer with other securities of the city and shall be subject to the order of the board of trustees.
HISTORY: 1962 Code SECTION 61-385; 1952 Code SECTION 61-385; 1942 Code SECTION 7532; 1932 Code SECTIONS 7551 to 7566; Civ. C. '22 SECTIONS 4658 to 4673; Civ. C. '12 SECTIONS 2968 to 2983; 1904 (24) 490; 1945 (44) 236; 1974 (58) 2382; 1979 Act No. 79 SECTION 4.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 9-13-50
What does South Carolina Code of Laws § 9-13-50 cover?
Section 9-13-50 ("Investment of 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 § 9-13-50?
A common citation format is "South Carolina Code of Laws § 9-13-50" (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 § 9-13-50 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.