South Carolina Code 41-43-210. Funds for administrative purposes
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 41-43-210
- Authority: means the South Carolina Jobs - Economic Development Authority, which is a state-owned enterprise. See South Carolina Code 41-43-20
- Program funds: means any monies, including, but not limited to, the proceeds from bond sales, the sale or disposition of any assets, or any other source available to the authority, other than administrative funds and the earnings on the funds. See South Carolina Code 41-43-20
All funds of the authority must be segregated or otherwise accounted for as administrative or program funds and deposited by the authority in a financial institution or institutions to be designated by the State Treasurer in accordance with policies established by the board of the authority. Funds of the authority must be paid out only upon warrants issued in accordance with policies established by the board of the authority. No warrants may be drawn or issued disbursing any of the funds of the authority except for a purpose authorized by this chapter.