South Carolina Statutes
§ 59-118-80 — Conditions on matching gifts.
The state matching gifts authorized in Section 59-118-70 are subject to the following conditions:
(1)qualifying disbursements to which the state matching gift is applied must come from the earnings of the endowment and not from principal or corpus;
(2)the state matching funds must go directly into the college's or university's operating account to be spent only for the purposes authorized;
(3)the college or university must make application to receive state matching funds on forms and under procedures prescribed by the Commission on Higher Education.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 59-118-80 (Conditions on matching gifts.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1997 Act No. 155, Part II, SECTION 21A.
Nearby Sections
10
§ 59-118-10
Short title.§ 59-118-100
Proportionate shares; undistributed funds.§ 59-118-20
Purpose.§ 59-118-30
Definitions.§ 59-118-50
Use of disbursements.§ 59-118-70
Provision of matching funds.§ 59-118-80
Conditions on matching gifts.