South Carolina Code 5-21-40. Officers required to account to municipality for interest collected on deposits
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Terms Used In South Carolina Code 5-21-40
- Conviction: A judgement of guilt against a criminal defendant.
A municipal officer depositing funds at interest in a bank or other depository shall account to the municipality for all interest collected on the deposits. A person violating the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years.