All net funds derived from auxiliary enterprises in any institution under the supervision of the State Board for Technical and Comprehensive Education shall be expended by the institution subject to the following limitations: up to twenty percent of the net funds/or $1,000 whichever is greater may be expended specifically for promotional use and at least eighty percent of the net funds shall be expended for the institution's operational expenses. Provided, further, That promotional expenditures shall be in keeping with policies and guidelines developed by the State Board for Technical and Comprehensive Education.
S.C. Code Ann. § 59-53-100
Expenditure of net funds derived from auxiliary enterprises in institutions under supervision of Board; limitations
1982 Act No. 466, Part II, SECTION 16.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.