SECTION 12. Section 111147 of the 1976 Code is amended to read: 111147. To underwrite automobile liability insurance “Section provided by the board authority, the Budget and Control Board Insurance Reserve Fund of the State Fiscal Accountability Authority is authorized to either selfinsure, purchase reinsurance, or use a combination of selfinsurance and reinsurance. Should the board authority elect to purchase automobile liability reinsurance, the reinsurance shall be procured through a bid process in accordance with the South Carolina Consolidated Procurement Code with a contract term not to exceed three years.” SECTION 13. Section 111160 of the 1976 Code is amended to read: 111160. The Division of General Services Division of “Section the Budget and Control Board Department of Administration shall, when necessary, execute a certificate of exemption from taxation when a certificate is required for Federal tax purposes for or on behalf of political subdivisions that purchase property from or through the Division of General Services Division and the certificate so executed shall then constitute the certificate of the political subdivision. The Division of General Services Division shall accept the political or purchase order as subdivision’s requisition conclusive proof that the property so requisitioned or purchased is for the exclusive use of the political subdivision.” SECTION 14. Section 111405 of the 1976 Code is amended to read: 111405. No aircraft may be purchased, leased, or “Section leasepurchased for more than a thirtyday period by any state agency without the prior authorization of the State Budget and Control Board State Fiscal Accountability Authority and the Joint Bond Review Committee.” SECTION 15. Section 111460 of the 1976 Code is amended to read: 111460. The State Budget and Control Board Fiscal “Section Accountability Authority, through the Division of Insurance Services Insurance Reserve Fund, is authorized to pay judgments
SECTION 12. Section 111147 of the 1976 Code is amended to read: “Section 111147. To underwrite automobile liability insurance provided by the board authority, the Budget and Control Board Insurance Reserve Fund of the State Fiscal Accountability Authority is authorized to either selfinsure, purchase reinsurance, or use a combination of selfinsurance and reinsurance. Should the board authority elect to purchase automobile liability reinsurance, the reinsurance shall be procured through a bid process in accordance with the South Carolina Consolidated Procurement Code with a contract term not to exceed three years.” SECTION 13. Section 111160 of the 1976 Code is amended to read: “Section 111160. The Division of General Services Division of the Budget and Control Board Department of Administration shall, when necessary, execute a certificate of exemption from taxation when a certificate is required for Federal tax purposes for or on behalf of political subdivisions that purchase property from or through the Division of General Services Division and the certificate so executed shall then constitute the certificate of the political subdivision. The Division of General Services Division shall accept the political subdivision’s requisition or purchase order as conclusive proof that the property so requisitioned or purchased is for the exclusive use of the political subdivision.” SECTION 14. Section 111405 of the 1976 Code is amended to read: “Section 111405. No aircraft may be purchased, leased, or leasepurchased for more than a thirtyday period by any state agency without the prior authorization of the State Budget and Control Board State Fiscal Accountability Authority and the Joint Bond Review Committee.” SECTION 15. Section 111460 of the 1976 Code is amended to read: “Section 111460. The State Budget and Control Board Fiscal Accountability Authority, through the Division of Insurance Services Insurance Reserve Fund, is authorized to pay judgments
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