SC Supreme Court to hear case against treasurer
By MEG KINNARD
COLUMBIA, S.C. (AP) - South Carolina's high court could settle an escalating feud between State Treasurer Curtis Loftis and his fellow commissioners on the board that oversees public workers' pension fund.
The state Supreme Court will hear arguments Tuesday morning in the lawsuit against the first-term Republican treasurer.
The Retirement System Investment Commission sued last week, asking the court to force Loftis to transfer money for an investment that he and the rest of the board approved last November. It noted the state would be in default if $11.7 million wasn't authorized Tuesday.
Loftis averted that possibility with wire transfers Monday morning. He asked the court to dismiss the case as moot.
But the commission wants the lawsuit to proceed to settle questions over Loftis' role and prevent a future crisis.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.