South Carolina § 11-35-2020 Approval of accounting system.

South Carolina Statutes

§ 11-35-2020 — Approval of accounting system.

South Carolina § 11-35-2020

Title 11PUBLIC FINANCE

Ch. 35SOUTH CAROLINA CONSOLIDATED PROCUREMENT CODE

This text of South Carolina § 11-35-2020 (Approval of accounting system.) 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. § 11-35-2020 (2026).

Text

The chief procurement officer, the head of a purchasing agency, or a designee of either officer may require that:

(1)the proposed contractor's accounting system shall permit timely development of all necessary cost data in the form required by the specific contract type contemplated;

(2)the proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.

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The chief procurement officer, the head of a purchasing agency, or a designee of either officer may require that: (1) the proposed contractor's accounting system shall permit timely development of all necessary cost data in the form required by the specific contract type contemplated; (2) the proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.