South Carolina General Assembly
116th Session, 2005-2006

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Indicates Matter Stricken
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S. 198

STATUS INFORMATION

General Bill
Sponsors: Senator Grooms
Document Path: l:\council\bills\gjk\20074sd05.doc

Introduced in the Senate on January 12, 2005
Currently residing in the Senate Committee on Agriculture and Natural Resources

Summary: Grain Dealers Guaranty Fund

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/12/2005  Senate  Introduced and read first time SJ-12
   1/12/2005  Senate  Referred to Committee on Agriculture and Natural 
                        Resources SJ-12

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/12/2005

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

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 46-40-100 SO AS TO PROVIDE THAT CHAPTER 40 OF TITLE 46 RELATING TO THE GRAIN DEALERS GUARANTY FUND IS REPEALED UPON CERTIFICATION BY THE COMMISSIONER OF AGRICULTURE THAT ALL LOANS RECEIVED BY THE GUARANTY FUND FROM THE STATE INSURANCE RESERVE FUND HAVE BEEN PAID IN FULL.

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

SECTION    1.    Chapter 40, Title 46 of the 1976 Code is amended by adding:

"Section 46-40-100.    Upon full repayment to the Insurance Reserve Fund of all loans received from it pursuant to Section 46-40-90 as certified to the Secretary of State and the Code Commissioner by the Commissioner of Agriculture, this chapter is repealed. Any funds remaining after repayment to the Insurance Reserve Fund shall be transferred to the Grain Producers Guaranty Fund established under Section 46-41-200."

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

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