South Carolina General Assembly
108th Session, 1989-1990

Bill 3491

                    Current Status

Bill Number:               3491
Ratification Number:       186
Act Number                 122
Introducing Body:          House
Subject:                   State Budget and Control Board power to
                           approve an interest rate repealed
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A122, R186, H3491)

AN ACT TO REPEAL SECTION 11-9-350, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE REQUIREMENT THAT THE STATE BUDGET AND CONTROL BOARD APPROVE AN INTEREST RATE IN EXCESS OF SEVEN PERCENT A YEAR ON OBLIGATIONS OF PUBLIC BODIES ALLOWED BY LAW TO INCUR DEBT.

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

Code repealed

SECTION 1. Section 11-9-350 of the 1976 Code is repealed.

Time effective

SECTION 2. This act takes effect upon approval by the Governor.