South Carolina Statutes
§ 11-15-240 — Holding of sinking fund investments.
Such investments shall be kept separate and distinct and properly earmarked with or registered in the name of the particular sinking fund to which they are applicable and shall be used for no other purpose and kept until such time before the maturity of the bonds for which the sinking fund is established as it may be necessary to sell or collect them in order to meet such obligations at maturity.
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South Carolina § 11-15-240 (Holding of sinking fund investments.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 1-664; 1952 Code SECTION 1-664; 1942 Code SECTION 3884; 1932 Code SECTION 3884; 1925 (34) 289; 1928 (35) 1167; 1931 (37) 95, 132; 1932 (37) 1352, 1363; 1935 (39) 432.
Nearby Sections
15
§ 11-15-210
Investment of sinking funds of political subdivisions of the State; changing investments.§ 11-15-230
Deposit of collections for sinking fund.§ 11-15-240
Holding of sinking fund investments.§ 11-15-250
Advertisements for purchase of securities.§ 11-15-260
Choice of investments.§ 11-15-270
Sale of bonds in sinking fund.§ 11-15-410
Short title.