Home/South Carolina/Statutes/Title 8: PUBLIC OFFICERS AND EMPLOYEES/Ch. 23: DEFERRED COMPENSATION PROGRAM/§ 8-23-50
South Carolina Statutes

§ 8-23-50 — Payment of premiums.

South Carolina·Title 8 PUBLIC OFFICERS AND EMPLOYEES·Ch. 23 DEFERRED COMPENSATION PROGRAM
Notwithstanding any other provision of law, those persons designated to administer the Deferred Compensation Program are authorized to make payment of premiums for the purchase of fixed or variable annuities, savings, mutual funds and insurance contracts under the Deferred Compensation Program. Such payments shall not be construed to be a prohibited use of the general assets of the State or political subdivision.

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South Carolina § 8-23-50 (Payment of premiums.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1977 Act No. 97 SECTION 5.

Nearby Sections

11
§ 8-23-10
Declaration of purpose.
§ 8-23-100
Withdrawal from program.
§ 8-23-110
Employer contributions; matching and other contributions by political subdivisions of State; determination of amount and terms of State contributions.
§ 8-23-20
Deferred Compensation Program.
§ 8-23-30
State and political subdivisions may agree to defer percentage of employees' compensation.
§ 8-23-40
Director or principal fiscal officer of state agencies and political subdivisions may agree to defer any portion of employee's compensation.
§ 8-23-50
Payment of premiums.
§ 8-23-60
"Employees" defined.
§ 8-23-70
Program additional to other retirement; pension or benefit systems; taxation of deferred sums.
§ 8-23-80
Limitation on financial liability of State or political subdivisions.
§ 8-23-90
No cost or liability to State or political subdivisions other than incidental expenses.
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