South Carolina Statutes
§ 63-11-950 — Disbursement of funds.
(A)The amount deposited in the trust fund from contributions plus all earnings from the investment of monies of the trust fund credited during the previous fiscal year, after allowances for operating expenses, is available for disbursement upon the authorization of the board of directors.
(B)A quorum of the board members is necessary to authorize the disbursement of funds.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 63-11-950 (Disbursement of funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2008 Act No. 361, SECTION 2; 2008 Act No. 273, SECTION 1.
Nearby Sections
15
§ 63-11-1310
Purpose.§ 63-11-1320
Clients.§ 63-11-1330
Duties.§ 63-11-1350
Confidentiality.§ 63-11-1360
Annual report.§ 63-11-1510
System established.§ 63-11-1520
State agency responsibilities.§ 63-11-1530
Services Fund.§ 63-11-1720
Board of trustees; composition; oversight.§ 63-11-1725
Advisory council.§ 63-11-1726
Data-sharing initiatives.§ 63-11-1730
Board of trustees; promulgation of comprehensive long-term initiative; regulations; policies.§ 63-11-1735
Repealed.