South Carolina General Assembly
108th Session, 1989-1990

Bill 3264

                    Current Status

Bill Number:               3264
Ratification Number:       28
Act Number                 18
Introducing Body:          House
Subject:                   Facsimile of State Treasurer's signature
                           authorized
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A18, R28, H3264)

AN ACT TO AMEND ACT 1377 OF 1968, RELATING TO STATE CAPITAL IMPROVEMENT BONDS, SECTION 57-11-350 OF THE 1976 CODE, RELATING TO STATE HIGHWAY BONDS, SECTION 59-71-500, RELATING TO STATE SCHOOL BONDS, AND SECTION 59-107-130, RELATING TO STATE INSTITUTIONAL BONDS, SO AS TO PROVIDE THAT THE STATE TREASURER AS WELL AS THE GOVERNOR MAY SIGN THESE OBLIGATIONS BY A FACSIMILE OF HIS SIGNATURE.

Be it enacted by the General Assembly of the State of South Carolina:

Facsimile of State Treasurer's signature authorized

SECTION 1. Section 13 of Act 1377 of 1968 is amended to read:

"Section 13. All State Capital Improvement Bonds issued under this act must be signed by the Governor and the State Treasurer. The Governor and the State Treasurer may sign these obligations by a facsimile of their signatures. The Great Seal of the State must be affixed to, impressed, or reproduced upon each of them and each must be attested by the Secretary of State. All coupons that may be attached to State Capital Improvement Bonds must be authenticated by facsimile signature of the State Treasurer who is in office on the date on which the State Capital Improvement Bonds bear or on the date on which the State Capital Improvement Bonds are converted into coupon bonds, State Capital Improvement Bonds so executed and authenticated are valid notwithstanding any changes in officers or seal occurring after the execution or authentication."

Facsimile of State Treasurer's signature authorized

SECTION 2. Section 57-11-350 of the 1976 Code is amended to read:

"Section 57-11-350. All state highway bonds issued under this article must be signed by the Governor and the State Treasurer. The Governor and the State Treasurer may sign these obligations by a facsimile of their signatures. The Great Seal of the State must be affixed to, impressed, or reproduced upon each of them and each must be attested by the Secretary of State. All coupons that may be attached to state highway bonds must be authenticated by facsimile signature of the State Treasurer who is in office on the date which the state highway bonds bear or on the date on which the state highway bonds are converted into coupon bonds. State highway bonds so executed and authenticated are valid notwithstanding any changes in officers or seal occurring after the execution or authentication."

Facsimile of State Treasurer's signature authorized

SECTION 3. Section 59-71-500 of the 1976 Code is amended to read:

"Section 59-71-500. All state school bonds issued under this article must be signed by the Governor and the State Treasurer. The Governor and the State Treasurer may sign these obligations by a facsimile of their signatures. The Great Seal of the State must be affixed to, impressed, or reproduced upon each of them and each must be attested by the Secretary of State. All coupons that may be attached to state school bonds must be authenticated by a facsimile signature of the State Treasurer who is in office on the date which the state school bonds bear or on the date on which the state school bonds are converted into coupon bonds. The delivery of the state school bonds so executed and authenticated is valid notwithstanding any changes in officers or seal occurring after the execution or authentication."

Facsimile of State Treasurer's signature authorized

SECTION 4. Section 59-107-130 of the 1976 Code is amended to read:

"Section 59-107-130. All state institution bonds issued pursuant to this chapter must be signed by the Governor and the State Treasurer. The Governor and the State Treasurer may sign these obligations by a facsimile of their signatures. The Great Seal of the State must be affixed to, impressed or reproduced upon each of them and must be attested by the Secretary of State. The coupons attached to the state institution bonds must be authenticated by a facsimile signature of the State Treasurer who is in office on the date of the state institution bonds. The delivery of the state institution bonds so executed and authenticated is valid notwithstanding any changes in officers or seal occurring after the execution or authentication. The state institution bonds must be issued in that form and denomination and with those provisions as to time, place or places, and medium of payment, as may be determined by the state board within the limitations of this chapter."

Time effective

SECTION 5. This act takes effect upon approval by the Governor.