South Carolina Statutes
§ 11-31-40 — Duties of state board and State Treasurer.
It shall be the duty of the state board to insure the safety of all coupon bonds and their appurtenant coupons exchanged under the provisions of this chapter and to provide for their destruction upon the payment of the registered bond for which it was exchanged. It shall likewise be the duty of the State Treasurer to establish a proper registry for all fully registered bonds and to effect payment of the interest to become due thereon by check or draft payable to the registered holder of such fully registered bond at the address shown on the registration books. Payment of the principal of such fully registered bonds shall be effected only upon delivery thereof for cancellation to the State Treasury or any agency of the State Treasury empowered to act by the state board.
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South Carolina § 11-31-40 (Duties of state board and State Treasurer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1978 Act No. 592 SECTION 5.
Nearby Sections
6
§ 11-31-10
Authorization for exchange of bonds.§ 11-31-20
Bonds held for reissuance.§ 11-31-30
Form of bonds.§ 11-31-5
"State board" defined.§ 11-31-50
Powers of board; regulations.