South Carolina Statutes
§ 41-43-220 — Administrative funds not to be obligated except for administrative expenses.
South Carolina·Title 41 LABOR AND EMPLOYMENT·Ch. 43 SOUTH CAROLINA JOBS - ECONOMIC DEVELOPMENT FUND ACT
The authority must not incur any obligations, other than obligations related to administrative expenses, payable out of administrative funds. All other obligations are payable solely from program funds which limitation is clearly stated on the face of any bonds and in the text of any other obligation or contract. However, program funds may be used to pay administrative expenses.
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South Carolina § 41-43-220 (Administrative funds not to be obligated except for administrative expenses.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1983 Act No. 145 SECTION 23; 1992 Act No. 404, SECTION 8, eff July 1, 1992. Effect of Amendment The 1992 amendment added the last sentence.
Nearby Sections
15
§ 41-43-10
Citation of chapter.§ 41-43-100
Industrial development projects.§ 41-43-110
Issuance of bonds; utilization of proceeds.§ 41-43-130
Bonds and income exempt from certain taxes; exemption of documents from transfer and stamp taxes.§ 41-43-150
Antidiscrimination in administration of programs; persons and projects eligible for assistance.§ 41-43-170
Guaranty fund authorized; purposes.§ 41-43-20
Definitions.§ 41-43-210
Funds for administrative purposes.