South Carolina Code 48-59-30. Definitions
(1) "Bank" means the South Carolina Conservation Bank.
Terms Used In South Carolina Code 48-59-30
- Bank: means the South Carolina Conservation Bank. See South Carolina Code 48-59-30
- Board: means the governing board of the bank. See South Carolina Code 48-59-30
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Conservation easement: means an interest in real property as defined in Chapter 8 of Title 27, the South Carolina Conservation Easement Act of 1991. See South Carolina Code 48-59-30
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Land: means real property, including highlands and wetlands of any description. See South Carolina Code 48-59-30
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trust fund: means the South Carolina Conservation Bank Trust Fund established pursuant to § 48-59-60. See South Carolina Code 48-59-30
(2) "Board" means the governing board of the bank.
(3) "Trust fund" means the South Carolina Conservation Bank Trust Fund established pursuant to § 48-59-60.
(4) "Eligible trust fund recipient" means:
(a) the following state agencies, which own and manage land for the land’s natural resource, historical, and outdoor recreation values:
(i) South Carolina Department of Natural Resources,
(ii) South Carolina Forestry Commission, and
(iii) South Carolina Department of Parks, Recreation and Tourism.
(b) a municipality of this State and any agency, commission, or instrumentality of such a municipality;
(c) a county of this State and any agency, commission, or instrumentality of such county; or
(d) a not-for-profit charitable corporation or trust authorized to do business in this State whose principal activity is the acquisition and management of interests in land for conservation or historic preservation purposes and which has tax-exempt status as a public charity under the Internal Revenue Code of 1986.
(5) "Farmland" means land used for the production of food, fiber, or other agricultural products.
(6) "Land" means real property, including highlands and wetlands of any description.
(7) "Conservation easement" means an interest in real property as defined in Chapter 8 of Title 27, the South Carolina Conservation Easement Act of 1991.
(8) "Interests in lands" means fee simple titles to lands or conservation easements.