S.C. Code Ann. § 9-11-240 – Board shall be trustee of funds; powers with respect to securities and other investments; Board members or employees not to have personal financial interest in moneys | Midpage
§ 9-11-240
S.C. Code Ann. § 9-11-240
Board shall be trustee of funds; powers with respect to securities and other investments; Board members or employees not to have personal financial interest in moneys
(1) The board is the trustee of the system and may invest and reinvest the funds as the funds of the South Carolina Retirement System may be invested and reinvested as provided in Section 9-1-1310.
(2) Except as otherwise herein provided, no member of or person employed by the Board shall have a direct interest in the gains or profits of any investment made by the Board. No member of the Board or employee of the Board shall, directly or indirectly, for himself or as an agent in any manner use the funds of the System except to make such current and necessary payments as are authorized by the Board. Nor shall any member or employee of the Board become an endorser or surety, or in any manner an obligor, for moneys loaned or borrowed from the Board.