South Carolina Statutes
§ 59-69-120 — Use of reserve fund.
Whenever any such reserve fund reaches an amount sufficient to put the county or school district, as the case may be, on a cash basis, the fund may be used for said purpose. And in each year during the time necessary to create such reserve fund, the county superintendent of education shall use the fund accumulated as a loan, without interest, to pay claims held by teachers to whom pay certificates were originally issued, the funds so used to be replaced annually from taxes collected for school purposes.
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South Carolina § 59-69-120 (Use of reserve fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 21-943; 1952 Code SECTION 21-943; 1942 Code SECTION 5373; 1932 Code SECTION 5429; Civ. C. '22 SECTION 2694; Civ. C. '12 SECTION 1808; 1902 (23) 1020. ARTICLE 5 Claims Against School Funds
Nearby Sections
14
§ 59-69-120
Use of reserve fund.§ 59-69-210
Prerequisites to payment of claims.§ 59-69-230
Payments from school funds.§ 59-69-270
Borrowing to pay school claims.§ 59-69-30
State school fund.