South Carolina § 9-13-80 - Sources of funds.

§ 9-13-80. Sources of funds.

The funds for such pension fund shall be raised as follows:

(1) The board of trustees may take by gift, devise or bequest any money, real estate, personal property or other valuable things and pay them into the pension fund;

(2) All forfeitures and fines imposed upon any member of the fire department, by way of discipline, shall be paid into the pension fund;

(3) All proceeds from sales of condemned or discarded personal property and equipment in use in the department may be paid into the pension fund;

(4) The city council of any city having a board of trustees under this chapter may levy and collect such taxes as may be necessary and appropriate such monies as may be necessary to supplement and support such pension funds and may assess and collect from the salary of each member of the fire department an amount set by the board in accordance with a majority vote of the members of the fire department and pay such assessments into the pension fund;

(5) Any funds remitted to the firemen's pension fund derived from foreign insurance companies as provided in Chapter 57 of Title 38.

Provided, however, that such funds shall not be restricted for such use by the participating fire departments.

HISTORY: 1962 Code SECTION 61-388; 1952 Code SECTION 61-388; 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; 1979 Act No. 79 SECTION 6.