South Carolina Code 58-27-1150. Entities which may invest in storm recovery bonds
Current as of: 2023 | Check for updates
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All of the following entities may legally invest any sinking funds, monies, or other funds in storm recovery bonds:
(1) the South Carolina Pooled Investment Fund established pursuant to § 6-6-10;
Terms Used In South Carolina Code 58-27-1150
- storm: means , individually or collectively, a named tropical storm or hurricane, a tornado, ice storm or snowstorm, flood, an earthquake, or other significant weather or natural disaster. See South Carolina Code 58-27-1105
(2) banks and bankers, savings and loan associations, credit unions, trust companies, savings banks and institutions, investment companies, insurance companies, insurance associations, and other persons carrying on a banking or insurance business;
(3) personal representatives, guardians, trustees, and other fiduciaries; and
(4) all other persons authorized to invest in bonds or other obligations of a similar nature.