South Carolina Statutes
§ 59-40-120 — Dissolution of charter school.
Upon dissolution of a charter school, its assets may not inure to the benefit of any private person. Any assets obtained through restricted agreements with a donor through awards, grants, or gifts must be returned to that entity. All other assets become property of the sponsor.
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South Carolina § 59-40-120 (Dissolution of charter school.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1996 Act No. 447, SECTION 2; 2002 Act No. 341, SECTION 1; 2006 Act No. 274, SECTION 1, eff May 3, 2006. Effect of Amendment The 2006 amendment reprinted this section with no apparent change.
Nearby Sections
15
§ 59-40-10
Short title.§ 59-40-111
Alternative Education Campus.§ 59-40-115
Termination of contract with sponsor.§ 59-40-120
Dissolution of charter school.§ 59-40-125
Eligibility for retirement coverage.§ 59-40-140
Funds; services; reports.§ 59-40-150
Duties of Department of Education.§ 59-40-160
Compilation of evaluations; impact study.