Disbursements from the earnings must be used to provide funds for academic purposes, to include academic scholarships, and are then eligible to receive state matching funds.
S.C. Code Ann. § 59-118-50
Use of disbursements
Known as the South Carolina Academic Endowment Incentive Act
The act spans §§ 59–59 (10 sections).
1997 Act No. 155, Part II, SECTION 21A.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.