South Carolina Statutes
§ 59-40-120 — Dissolution of charter school.
South Carolina § 59-40-120
This text of South Carolina § 59-40-120 (Dissolution of charter school.) 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. § 59-40-120 (2026).
Text
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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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.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 59-40-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/40/59-40-120.