§ 25-21-30 — Duties and functions of board of trustees.

South Carolina § 25-21-30

• Jurisdiction: South Carolina
• Title 25: MILITARY, CIVIL DEFENSE AND VETERANS AFFAIRS
• Ch. 21: VETERANS' TRUST FUND

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To fulfill its duties and functions, the board is authorized, but not limited to: (1) assess the needs of veterans, establish priorities, and develop goals and objectives for the Veterans' Trust Fund; (2) decide how the monies in the fund must be disbursed; (3) accept gifts, grants, and bequests from any person, entity, or foundation, either public or private; (4) accept appropriations, loans, or grants from any governmental or quasigovernmental source; (5) acquire and hold property; (6) invest trust monies, including pooled investment funds maintained by the State; (7) solicit proposals for programs aimed at meeting identified needs; (8) establish rules of procedure for board meetings and any other function of the fund necessary for the orderly conduct of its business; (9) enter into contracts for the awarding of grants to public or private, nonprofit organizations; (10) establish criteria for awarding of grants which shall include the consideration of at least: (a) the priority of the service need that the proposal addresses; (b) the quality and soundness of the proposal and its probable effectiveness in accomplishing its objectives; (c) a cost-benefit analysis of the project; (d) the degree of community support for the proposal; (e) the utilization of local resources, including volunteers, when appropriate, and matching or in-kind contributions which may be, but are not, required; (f) the qualifications of employees to be hired under the grant; (g) the experience of the proposed project administrators in providing ongoing accountability for the program. (11) fundraise, to include making disbursements from the fund in support of fundraising activities. The disbursements may not exceed the lesser of one percent of the assets of the fund or fifty percent of the amount allowed to be disbursed pursuant to Section 25-21-40 per calendar year based on the closing balance of the fund and the end of the preceding calendar year.

Legislative History

HISTORY: 1995 Act No. 90, SECTION 1; 2000 Act No. 288, SECTION 4; 2024 Act No. 151 (H.4928), SECTION 2, eff May 13, 2024. Effect of Amendment 2024 Act No. 151, SECTION 2, added (11).