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2017 South Carolina Code of Laws
Title 59 - Education
CHAPTER 111 - SCHOLARSHIPS
Section 59-111-770. Final disbursements from fund; dissolution of fund.
Universal Citation: SC Code § 59-111-770 (2017)
Any funds remaining in the fund July 1, 1999, or any funds which have reverted to the fund pursuant to Section 59-111-730(B), shall be distributed equally among the board if it has established an endowment and each qualifying institution that has established an endowment and raised the required match funds. Funds distributed pursuant to this section must be used only for the purpose of increasing the corpus of the endowment. Upon final disbursement of all funds in accordance with this section, the fund shall be dissolved.
HISTORY: 1994 Act No. 497, Part II, Section 104.
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