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.
S.C. Code Ann. § 41-43-210
Funds for administrative purposes
Known as the South Carolina Jobs - Economic Development Fund Act
The act spans §§ 41–41 (30 sections).
1983 Act No. 145 SECTION 22; 1992 Act No. 404, SECTION 7, eff July 1, 1992.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.