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S.C. Code Ann. § 42-7-10

Establishment of State Accident Fund; contents

Known as the The South Carolina Workers' Compensation Law

The act spans §§ 42–42 (216 sections).

1962 Code SECTION 72-451; 1952 Code SECTION 72-451; 1947 (45) 147; 1974 (58) 2237; 1989 Act No. 189, Part II, SECTION 22A, eff June 8, 1989 (became law without the Governor's si…

(A) There is established as a separate agency of state government a separate fund to be known as the State Accident Fund, hereinafter referred to as the "fund" or "state fund" in this article. This fund consists of annual premium charges, recoveries from the Second Injury Fund, recoveries by subrogation and, subject to subsection (B), of all income or revenue derived from investing these funds. Receipts for the credit of the fund and expenditures from the fund must be handled in the manner provided by law governing all state funds.

(B) One-third of the investment income generated in Fiscal Year 1990-91 and two-thirds of the income generated in Fiscal Year 1991-92 must be credited to the state fund in those years respectively. Thereafter all such income must be credited to the state fund except that the State Treasurer may charge the state fund, and credit to the general fund, the customary investment management fee.

Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.