Terms Used In South Carolina Code > Title 59 > Chapter 153 > Article 3 - Investment of Funds

• Agent: means the State Treasurer. See South Carolina Code 59-153-10
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assets: means all funds, investments, and similar property owned by the respective state institutions of higher learning and in the custody of the Agent. See South Carolina Code 59-153-10
• Board: means the Board of Trustees of the respective institution of higher learning acting as trustee of the endowment system. See South Carolina Code 59-153-10
• Endowment funds: means those funds donated to the respective individual state-supported institutions of higher learning of the State of South Carolina, which are held and invested by the State Treasurer on behalf of the institutions. See South Carolina Code 59-153-10
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Panel: means the State Retirement Systems Investment Panel established pursuant to § 9-16-310. See South Carolina Code 59-153-10
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means the board of trustees of the respective institutions of higher learning. See South Carolina Code 59-153-10