South Carolina Statutes
§ 50-3-740 — Limitations and restrictions on expenditures from fund.
The fund constitutes a special trust derived from a contractual relationship between the State and the members of the public whose investments contribute to the fund. In recognition of the special trust, the following limitations and restrictions are placed on expenditures from the fund:
(1)Any limitations or restrictions specified by the donors on the uses of the income derived from the gifts, grants, and voluntary contributions are respected but are not binding.
(2)No expenditure or disbursement may be made from the principal of the fund except as otherwise provided by law.
(3)The income received and accruing from the investments of the fund must be spent only in furthering the conservation of wildlife resources and the efficient operation of the department in accomplishing the purpos
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South Carolina § 50-3-740 (Limitations and restrictions on expenditures from fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1989 Act No. 101, SECTION 1; 1993 Act No. 181, SECTION 1258.
Nearby Sections
15
§ 50-3-10
Former Wildlife and Marine Resources Department transferred to Department of Natural Resources.§ 50-3-1020
Board of Trustees.§ 50-3-1030
Assets of fund.§ 50-3-1040
Restrictions on expenditures from fund.§ 50-3-1050
Expenditure of income.§ 50-3-1070
Successor agency.§ 50-3-1110
Conservation Grant Fund established.§ 50-3-1120
Board; administration of fund.§ 50-3-1130
Funding.