South Carolina § 59-109-40 Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.

South Carolina Statutes

§ 59-109-40 — Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.

South Carolina § 59-109-40

Title 59EDUCATION

Ch. 109EDUCATIONAL FACILITIES AUTHORITY ACT FOR PRIVATE NONPROFIT INSTITUTIONS OF HIGHER LEARNING

This text of South Carolina § 59-109-40 (Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 59-109-40 (2026).

Text

There is hereby created a body politic and corporate to be known as the "Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning," hereinafter in this chapter called the authority. The authority is constituted a public instrumentality and the exercise by the authority of the powers conferred by this chapter must be deemed and held to be the performance of an essential public function. The authority shall consist of the members from time to time of the State Fiscal Accountability Authority, ex officio; and all the functions and powers of the authority are hereby granted to the State Fiscal Accountability Authority, as an incident of its functions in connection with the public finances of the State.

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There is hereby created a body politic and corporate to be known as the "Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning," hereinafter in this chapter called the authority. The authority is constituted a public instrumentality and the exercise by the authority of the powers conferred by this chapter must be deemed and held to be the performance of an essential public function. The authority shall consist of the members from time to time of the State Fiscal Accountability Authority, ex officio; and all the functions and powers of the authority are hereby granted to the State Fiscal Accountability Authority, as an incident of its functions in connection with the public finances of the State.

Legislative History

HISTORY: 1962 Code SECTION 22-41.3; 1969 (56) 444; 1975 (59) 47; 2014 Act No. 121 (S.22), Pt VII, SECTION 20.N, eff July 1, 2015. Effect of Amendment 2014 Act No. 121, SECTION 20.N, twice substituted "Fiscal Accountability Authority" for "Budget and Control Board", and made other nonsubstantive changes.